Why Coca-Cola Stock Jumped 6% Today
Shares of Coca-Cola (NYSE: KO) were up by 6.2% at 12:40 p.m. ET. The beverage giant reported first-quarter results early Tuesday morning, landing just ahead of Wall Street's consensus estimates across the board.
Coke's net revenues rose 12% year over year to $12.47 billion. Adjusted earnings jumped from $0.73 to $0.86 per diluted share, which works out to an 18% increase. The average analyst would have settled for earnings near $0.81 per share on top-line sales in the neighborhood of $12.27 billion.
Sales and shipping volumes were up across all geographic regions. Operating profits also rose everywhere, except for a 17% drop in the Asia Pacific region. The company ran extensive discount programs in this region, while ingredient costs surged. That's a minor setback in a broadly successful quarter, though.
Source Fool.com
