Retail

Coca-Cola (KO) earnings Q3 2020 top estimates

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Coca-Cola on Thursday reported that its third-quarter revenue fell 9% as the coronavirus pandemic weighed on demand for fountain soft drinks, Powerade and Dasani.

But the company topped earnings estimates, sending shares up nearly 2% in morning trading.

Here’s what the company reported for the quarter ended Sept. 25 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 55 cents, adjusted, vs. 46 cents expected
  • Revenue: $8.65 billion vs. $8.36 billion expected

Coke reported third-quarter net income of $1.74 billion, or 40 cents per share, down from $2.59 billion, or 60 cents per share, a year earlier.

Excluding asset impairments, severance…



Source cnbc.com

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