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Coca-Cola's 3Q revenue tops estimates, pushing up shares in pre-market trading

Proactive Investors Friday, 18 October 2019
The Coca-Cola Company (NYSE:KO) on Friday reported fiscal third-quarter revenue that topped analysts’ expectations as more customers are being drawn in by healthier options, like Zero Sugar soda and smaller size cans.  Shares of the company rose 2% to $54.90 in premarket trading.  “Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system,” CEO James Quincey said in a statement. Coke reported net income of $2.6 billion, or 60 cents per share, up from $1.8 billion, or 44 cents per share, a year earlier. Excluding impairment charges, gains from the sale of a New York building, and other items, the beverage giant earned 56 cents per share, in line with the 56 cents per share expected by analysts. Net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion. Organic revenue grew by 5%, helped by higher prices and customers buying more expensive drinks. The company said it now expects full-year earnings-per-share to range from a decline of 1% to growth of 1%, unchanged from previous guidance.  Contact the author: [email protected] Follow him on Twitter @PatrickMGraham
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News video: Jim Cramer Explains Why Coca-Cola's Earnings Has No Consumer Correlation

Jim Cramer Explains Why Coca-Cola's Earnings Has No Consumer Correlation 01:43

Real Money Stock of the Day Coca-Cola posted earnings Friday morning. Coca-Cola said adjusted earnings for the three months ending on September 27 came in at 56 cents per share, down modestly from the same period last year and in-line with analyst expectations. Group revenues topped analysts'...

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