Coca-Cola is getting rid of its "carbonated beverage company" name, and tea and coffee are selling better and better.

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Every time a financial report is issued, Coca-Cola is one step further from the name of "carbonated drinks company".

Last night, Coca-Cola reported Q3 results that its overall revenue fell 15 per cent to $9.1 billion year-on-year as a result of the sale of its bottling franchise, but excluding the impact, Coca-Cola's revenue grew by 4 per cent.

Some analysts believe that Coca-Cola is currently experiencing the pain of business restructuring, but after selling the bottle franchise, Coca-Cola will only provide concentrated liquid in the future. it will not be responsible for high-cost links such as equipment and materials, production and sales, logistics and transportation. The "asset-light" business model will boost profits over the next two years.

During the reporting period, Coca-Cola not only received fees for the sale of franchises, but also significantly reduced operating and management expenses, according to the financial report, operating expenses fell by about 20%. This has led to a big increase in the company's operating profit margin and net profit, stopping the decline in profits that began in 2012.

Since the new CEO James Quincy took office in May, Coca-Cola has turned to "beverage companies" rather than "carbonated beverage companies", looking for diversified growth, especially in health and high-end products. After a quarter of testing, Coca-Cola did begin to seriously take off its carbonated beverage company's hat.

From the point of view of the business line, Coca-Cola's main carbonated beverage products have continued the previous downturn, with consumption unchanged from last year, with only Sprite and the newly promoted Coca-Cola Zero Sugar-free better realized. Non-carbonated drinks stood out, with consumption of fruit juice, dairy products and coffee and tea both up 1 per cent year-on-year, but surprisingly, consumption in the water and sports drinks business fell by 1 per cent.

It is worth mentioning that in coffee drinks, Coca-Cola has partnered with Dunkin' Donuts doughnuts and McDonald's to enter the bottled coffee business. In addition, Coca-Cola continues to increase its investment in non-carbonated drinks and recently spared no effort to increase its investment in Tangli Water and Yiquan, spending 10 million pounds in the UK alone to better meet the growing consumer demand for tonic water.

Interestingly, Coca-Cola also wants to be a "technology company". It uses the collected data, coupled with artificial intelligence technology, to prepare new products that are healthier and more in line with consumer preferences. The new product tested recently is cherry-flavored Sprite, but it makes me a little skeptical about life. After having cherry-flavored Coke, some people still like cherry-flavored Sprite?

Although Coca-Cola has been emphasizing to be a diversified beverage company, carbonated drinks still account for the bulk of the company's business, and the growth rate of the new business line it is trying to develop can hardly offset the sharp decline in carbonated beverage sales. Therefore, when it comes to carbonated drinks, Coca-Cola is also trying to make some changes to slow down the decline in revenue. In July, seven beverage companies, including Coca-Cola, pledged to reduce the sugar content of their drinks. Since August, Coca-Cola has stopped producing Coke Zero in the United States and replaced it with a healthier Coke Zero Sugar Diet Coke, which has achieved good results.

In addition, Coca-Cola is offering a $1 million reward for a new generation of sweeteners to break new ground in carbonated drinks. In Japan, Coca-Cola also launched a Coca-Cola that claims to absorb fat to achieve slimming effect. Despite the controversy, Coca-Cola has also become an online celebrity product that has been talked about.

Compared with Pepsi's previous third-quarter figures, we found that Coca-Cola took away some of its rival's market share in North America. Pepsi's quarterly sales fell for the first time this year. Overall, Pepsi's revenue growth is also slower than that of Coca-Cola, with 1.3% for the former and 4% for the latter.

According to the forecast in the financial report, PepsiCo's organic revenue is expected to grow by about 2% in 2017, compared with 3% for Coca-Cola. Nik Modi, an analyst at RBC, believes that Coca-Cola has done better than Pepsi because of its aggressiveness in non-carbonated drinks.

Over the past few decades, Coca-Cola has added nearly 4000 new products and more than 500 brands, whether it's laying off staff or selling its business, probably the price it has to pay to restore growth and embrace change.