As CNBC reported this morning:
Coca-Cola on Friday reported quarterly revenue that topped analysts’ expectations as more customers are drawn in by healthier options, like Zero Sugar soda and smaller size cans.
Shares of the company rose 2.5% in premarket trading.
“Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system,” CEO James Quincey said in a statement.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Earnings per share: 56 cents, adjusted, vs. 56 cents expected
Revenue: $9.5 billion vs. $9.4 billion expected
Coke reported fiscal third-quarter net income of $2.6 billion, or 60 cents per share, up from $1.8 billion, or 44 cents per share, a year earlier.
This growth outlook was forecasted a couple of years ago when Wellington Analyst, Todd M. Schoenberger, appeared on Bloomberg Television alongside Trish Regan discussing the long-term prospects of holding $KO in your portfolio.
Take a look for yourself: