Coca-Cola reports better-than-expected Q4 sales despite lower US demand
Unit case volumes rose 2% in the quarter, led by sparkling soft drinks, juices and Coca-Cola Zero Sugar. Sports drinks, coffee and tea all saw lower demand.
Coca-Cola reported higher-than-expected revenue in the fourth quarter as growth in Mexico, Germany and other markets offset lower sales in the U.S.
Revenue rose 7% to $10.8 billion for the October-December period, the Atlanta beverage giant said Tuesday.
That topped Wall Street’s forecast of $10.7 billion, according to analysts polled by FactSet.
Unit case volumes rose 2% in the quarter, led by sparkling soft drinks, juices and Coca-Cola Zero Sugar. Sports drinks, coffee and tea all saw lower demand.
Net income fell 3% to $1.9 billion, or 46 cents per share. Without one-time items, including restructuring costs, the company earned 49 cents per share.
That was in line with Wall Street’s forecast.Shares of The Coca-Cola Company wereCoke shares were unchanged in premarket trading.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Tata Motors, Muthoot Finance and 3 more: Axis Direct recommends buying these stocks for 2 weeks; check targets, stop losses
06:28 PM IST