Stock Market Watch

Coca Cola Q3 Results Match Expectations

by ·


The world’s largest soft-drink maker, Coca Cola Company (NYSE: KO) reported fiscal third-quarter results on Tuesday, which were mainly in-line with analysts’ expectation. Improved sales of its non-soda offerings such as teas and packaged-water boosted the bottom line growth, notwithstanding overall difficult economic conditions.

For the latest period, Coca Cola posted adjusted earnings of 53 cents a share. Revenue slipped 3% to $12.03 billion from $12.34 billion. Analysts polled by Thomson Reuters had forecasted revenue of $12.05 billion.

In North America, sales volume rose 2% as demand for non-soda products was strong. While sales of still-drink and bottled water increased 5% in North America, sales of Teas, which include brands such as Fuze and Honest Tea, showed a double digit percentage growth. Sales of soft drinks, which include namesake brands, Fanta and sprite, rose 2% although more and more Americans are cutting intake of fizzy drinks.

Coca Cola, which generates nearly 60% of its revenue from international markets, relies on carbonated drinks for about 70% of its total global sales.

Sales-volume in Eurasia and Africa rose 4%; it increased 5% in the Pacific region, driven by 21% growth in Vietnam and 9% gains in China while sales volume in Europe fell 1%. In Latin America, sales volume remained flat.

Traditionally, Coca Cola does not provide quarterly guidance but it backed its long-term goals, adding that it will continue to invest in brands.

 








More Posts by this author

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

Tags:

Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

You may also like...