Keurig Dr Pepper (KDP) shares on Thursday are up after the beverage and coffee-brewing-system producer reported second-quarter earnings topped expectations.
The stock was up 5% at $28.98.
The Burlington, Mass., company earned 30 cents a share as revenue nearly tripled to $2.81 billion. The revenue figure reflected the closing of the merger of Keurig Green Mountain and Dr Pepper in July 2018.
Analysts surveyed by FactSet were expecting the company to report earnings of 29 cents a share on revenue of $2.86 billion.
Keurig Dr Pepper succeeded in "gaining or maintaining market share across the majority of our portfolio and delivering the bold financial commitments communicated at the time of the merger announcement," Chief Executive Bob Gamgort said.
The company affirmed its full-year earnings guidance of $1.20 to $1.22 a share, against Wall Street's expectation of $1.22.