Coke beats Street 1Q forecasts
ATLANTA (AP) — Coca-Cola Co. (KO) on Wednesday reported first-quarter earnings of $1.48 billion.
On a per-share basis, the Atlanta-based company said it had net income of 34 cents. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The world's largest beverage maker posted revenue of $10.28 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $10.26 billion.
Coke shares have climbed 8.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 3 percent. The stock has risen 15 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KO at http://www.zacks.com/ap/KO
Keywords: Coca-Cola, Earnings Report, Priority Earnings