Categories AlphaGraphs, Earnings, Other Industries

Coca-Cola tops Q2 estimates and lifts outlook; stock advances

Coca-Cola’s (NYSE: KO) bottom line and topline numbers in Q2 surpassed the consensus estimate. The beverage giant reported adjusted earnings of $0.63 per share, a tad higher than the expected earnings of $0.62 per share. Revenue rose 6% year-over-year to $10 billion and was higher than the predicted revenue of $9.79 billion.

Coca-Cola stock increased by 2% in the pre-market hours and traded close to the 52-week high mark it achieved during the last week.

Coca-Cola (KO) tops Q2 2019 estimates; lifts FY19 outlook

Earnings, on a GAAP basis, grew 12% to $0.61 per share in the recently ended quarter. Non-GAAP EPS grew 4% to $0.63, which included the impact from a 9-point currency headwind. Organic revenue grew 6%.

For the full-year 2019, the Atlanta, Georgia-based company updated its revenue guidance. Coca-Cola now expects its organic revenue to grow 5% versus the previously estimated growth of about 4%. Comparable currency neutral net revenues (non-GAAP) are estimated to grow 12% compared to the prior growth range of 12-13%.

For comparable net revenues, the company expects 4% currency headwind in 2019 based on the current rates and including the impact of hedged positions compared to the previously guided range of 3-4%. 2019 non-GAAP EPS growth was maintained in the previously projected range of -1% to 1% growth versus $2.08 in 2018.

Read: Coca-Cola Q1 2019 Earnings Conference Call Transcript

For Q3 comparable net revenues (non-GAAP), Coca-Cola sees 6% tailwind from acquisitions, divestitures, and structural items; 3% currency headwind based on the current rates and including the impact of hedged positions.

Earlier this month, rival beverage maker PepsiCo (NASDAQ: PEP) reported a 2% increase in revenues to $16.4 billion for its most recent quarter. Meanwhile, adjusted earnings dropped to $1.54 per share due to lower margins.

Shares of Coca-Cola have given a positive return of 8% so far this year and 13% in the past 12 months period.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

AVGO Earnings: Broadcom Q2 2024 revenue and profit beat estimates

Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Wednesday reported higher second-quarter revenues and adjusted earnings. The results also topped analysts' expectations. Earnings, excluding non-recurring items, came in at $10.96 per

Key takeaways from Oracle’s (ORCL) Q4 2024 earnings report

Oracle Corporation’s (NYSE: ORCL) stock rallied this week after the company announced large cloud infrastructure deals with tech giants Google, OpenAI, and Microsoft. The demand for Oracle's generative AI infrastructure

ZDGE Earnings: Zedge reports higher revenues and adj. profit for Q3 2024

Content distribution platform Zedge, Inc. (NYSE American: ZDGE) has reported higher net income for the third quarter of 2024, on an adjusted basis. The bottom line benefitted from a double-digit

Comments

  1. Pingback: itsmasum.com
  2. Pingback: atlanta job search
  3. Pingback: dublin jobs

Comments are closed.

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top