ATLANTA – Coca-Cola Co. (KO) on Tuesday reported fourth-quarter net income of $1.24 billion.
The Atlanta-based company said it had net income of 28 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 38 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The world’s largest beverage maker posted revenue of $10 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $9.86 billion.
Coke shares have decreased almost 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has fallen slightly more than 9 per cent. The stock has climbed nearly 3 per cent 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