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Coca-Cola Earnings: KO Stock Bubbles 2% Higher on Q3 Topper

Coca-Cola (NYSE:KO) reported earnings Oct. 18, 2019. The third-quarter results sent KO stock higher on Friday. The beverage maker reported comparable earnings-per-share of 56 cents, which was in-line with Wall Street’s estimate for the quarter. But a big part of the boost from Coca-Cola earnings was its reported revenue of $9.5 billion, which beat analyst estimates for $9.4 billion.

Coca-Cola Earnings: KO Stock Bubbles 2% Higher on Q3 Topper
Source: Soloviov Vadym / Shutterstock.com

Three are a few other things you should know about the most recent Coca-Cola earnings report:

  • Per-share earnings for the quarter are down 2% year-over-year from 57 cents.
  • Revenue was up roughly 8% from $8.7 billion in the third quarter of 2018.
  • Operating income of $2.5 billion is down 4% from $2.6 billion the same period of the year prior.
  • The Coca-Cola earnings report also includes a net income of $2.5 billion.
  • This is a 38% increase over net income of $1.8 billion from the same time last year.

James Quincey, Chairman and CEO of the company, said this about the Coca-Cola earnings report.

“Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system … We are positioning the company to create a better shared future for all of our stakeholders by delivering on our vision and growing sustainably.”

The solid Coca-Cola earnings report for the third quarter of 2019 has the company updating its full-year outlook. That includes new organic revenue growth guidance of at least 5%. It continues to expect comparable EPS growth between -1% and 1% for the year.

KO stock was up 2% Friday afternoon. The stock is also up 14.66% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/10/coca-cola-earnings-help-ko-stock/.

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