This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

cocacola stocks

Shares in us beverage giant Coca Cola are trading a little lower pre-market on Friday following a disappointing earnings call yesterday. The beverage-marker reported third-quarter earnings per share of $0.40, undershooting estimates for a $0.46 EPS.

Despite the miss on headline earnings, revenues were above expectations at $8.65 billion. This beat estimates of an $8.36 billion result. However, even at this level, revenues were down 9% on the same period last year.

Organic Sales Drop

Looking at the breakdown of the data, organic sales fell 6% year on year. Unit case volume, which is a measure of demand that strips out pricing impact/currency impact, was lower by 4%.

Indeed, all four categories of the company’s drinks reported a falling unit case volume. Of these, the least affected was sparkling soft drinks which noted only a 1% decline.

Tea and Coffee Hit Hardest

Of the company’s four drinks categories, tea and coffee were the worst hit, falling by 15% over the quarter. Just behind the...

To keep reading this article, please navigate to: Orbex Forex Trading Blog.