Coca-Cola reports better-than-expected earnings, revenue
Shares of Coca-Cola Co. KO, -3.18% rose 1.6% in premarket trading Tuesday, after the beverage giant reported first-quarter profit and revenue that beat expectations, as pantry loading earlier in the quarter helped offset substantial declines in its away-from-home channels given the COVID-19 pandemic. Net income rose to $2.78 billion, or 64 cents a share, from $1.68 billion, or 39 cents a share, in the year-ago period.
Unit case growth volume grew 3% through the end of February, but ended up down 1% for the quarter as with"solid" growth in North America more than offset by weakness in Asia/Pacific. Volumes have dropped 25% since the beginning of April. Sparking drinks case volume fell 2%; water, enhanced water and sports drinks grew 2%; juice, dairy and plant-based beverages declined 6% and tea and coffee fell 6%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sherry Cola Does a Dance That'll Make Kevin Bacon ProudSherry Cola Does a Footloose Dance That'll Make Kevin Bacon Proud on The Funny Dance Show
Read more »
Here’s what could lift Apple stock to $500The biggest driver of a massive rally for Apple Inc.’s stock may not be particularly exciting.
Read more »
Global Stocks Muted as Earnings Season Picks Up SteamWorld shares held steady at the start of a week in which a slew of corporate earnings reports will help investors gauge the early financial effects of the coronavirus pandemic.
Read more »
The Winner-Takes-All Stock Market RallyLarger companies have outperformed their smaller peers on equity markets this year, including in the latest bounce. Small-cap stocks will struggle to close the gap.
Read more »
Stocks Drop After Last Week’s RallyU.S. stocks slid as investors remain at odds on the extent of the economic damage stemming from the coronavirus pandemic and how quickly businesses will recover.
Read more »