Why Coca-Cola Stock Jumped Today
Coca-Cola (NYSE: KO) stock posted substantial gains in Tuesday's trading. The beverage giant's share price ended the session up 4.7% in a day of trading that saw the S&P 500's (SNPINDEX: ^GSPC) level wind up approximately in line with yesterday's close.
Coca-Cola reported its fourth quarter results before the market opened this morning and posted results that beat the average Wall Street targets. The company recorded non-GAAP (generally accepted accounting principles) adjusted earnings per share of $0.55 on sales of roughly $11.5 billion in the quarter, topping the average analyst estimate's call for per-share earnings of $0.52 on sales of $11.42 billion.
Coca-Cola's revenue increased 6.5% year over year in the fourth quarter, and adjusted earnings per share increased 12% compared to the prior-year period. Meanwhile, currency adjusted operating income increased 22% compared to Q4 in the previous year.
Source Fool.com
