Coca-Cola earnings for the second quarter of 2019 have KO stock heading to new heights on Tuesday.
Coca-Cola (NYSE:KO) reports earnings per share of 63 cents for the second quarter of the year. This is a 4% increase over the company’s earnings per share of 60 cents from the same time last year. It was also good news for KO stock by beating out Wall Street’s earnings per share estimate of 61 cents for the quarter.
Net income reported in the Coca-Cola earnings report for the second quarter of 2019 comes in at $2.63 billion. This is 13% better than the company’s net income of $2.33 billion reported in the second quarter of 2018.
The Coca-Cola earnings report for the second quarter of the year also includes operating income of $2.99 billion. That’s up 8% from beverage company’s operating income of $2.77 billion reported in the same period of the year prior.
Coca-Cola earnings for the second quarter of 2019 have revenue coming in at $10.00 billion. This is a roughly 6% improvement over the company’s revenue of $9.42 billion reported in the second quarter of the previous year. It was also a boon to KO stock by coming in above analysts’ revenue estimate of $9.99 billion for the period.
Coca-Cola also provides its outlook for the full year of 2019 in its most recent earnings report. The company still expects earnings per share to be down 1% or up 1% from 2018’s $2.08. Wall Street is looking for earnings per share of $2.10 for the year.
KO stock was up 5% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.