Coca-Cola on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations.
Shares of the company rose 3% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 48 cents, adjusted, vs. 46 cents expected
- Revenue: $8.02 billion vs. $7.88 billion expected
The beverage giant reported fiscal first-quarter net income of $1.68 billion, or 39 cents per share, up from $1.33 billion, or 32 cents per share, a year earlier.
From continuing operations, the Atlanta-based company earned 48 cents per share, topping the 46 cents per share expected by analysts surveyed by Refinitiv.
Net sales rose 5% to $8.02 billion, beating expectations of $7.88 billion.
After the company told investors last quarter that its 2019 earnings could decline by as much as 1%, its stock had its worst day in more than a decade. CEO James Quincey attributed the gloomy outlook to currency fluctuations, Fed rate hikes and changing tax rates.