by Christopher Freeburn | October 16, 2012 9:54 am
Coca-Cola (NYSE:KO) announced on Tuesday that it earned $2.31 billion during the third quarter, up 4% from $2.22 billion in the same period last year. Adjusted EPS was 51 cents, which matched Wall Street forecasts, the Associated Press noted.
The snack food and beverage giant recorded quarterly revenue of $12.34 billion, up 1% compared to last year. That fell short of the $12.4 billion that analysts had predicted.
Shares of Coca-Cola slipped about 1% in early Tuesday trading.
Company officials noted that international revenues had been negatively affected by a strengthening U.S. dollar.
North American sales volune increased 2% on rising sales of beverages, including teas and sports drinks. Emerging markets saw better results. Sales volume in India jumped 34%.
The company has previously indicated plans to invest $5 billion to expand its Indian operations by the end of the decade.
Coca-Cola is part of InvestorPlace’s Real America Index, a list of companies whose performance provides a window on the health of the U.S. economy. In the index, Coca-Cola represents the state of Georgia.
Source URL: http://investorplace.com/2012/10/coca-cola-matches-q3-estimates-with-higher-earnings/
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