The Coca-Cola Company (NYSE: KO) reported third-quarter 2020 financial results before the opening bell on Thursday. The beverage giant reported a 9% fall in Q3 revenues to $8.7 billion, beating the Wall Street consensus. Earnings of $0.55 per share were also stronger than what analysts had anticipated.
KO shares gained 1.7% immediately following the announcement. The stock has fallen 9% since the beginning of this year.
Last week, rival PepsiCo (NASDAQ: PEP) had reported better-than-expected results on continued strength in the snacks business.
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