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Coca-Cola's 3Q revenue tops estimates, pushing up shares in pre-market trading

The company noted that more customers are being drawn in by healthier options, like Zero Sugar soda and smaller size cans

The Coca-Cola Company - The Coca-Cola Company (NYSE:KO) on Friday reported fiscal third-quarter revenue that topped analysts’ expectations as more customers are drawn in by healthier options
Net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion

The Coca-Cola Company (NYSE:KO) on Friday reported fiscal third-quarter revenue that topped analysts’ expectations as more customers are being drawn in by healthier options, like Zero Sugar soda and smaller size cans. 

Shares of the company rose 2% to $54.90 in premarket trading. 

“Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system,” CEO James Quincey said in a statement.

Coke reported net income of $2.6 billion, or 60 cents per share, up from $1.8 billion, or 44 cents per share, a year earlier.

Excluding impairment charges, gains from the sale of a New York building, and other items, the beverage giant earned 56 cents per share, in line with the 56 cents per share expected by analysts.

Net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion. Organic revenue grew by 5%, helped by higher prices and customers buying more expensive drinks.

The company said it now expects full-year earnings-per-share to range from a decline of 1% to growth of 1%, unchanged from previous guidance. 

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: The Coca-Cola Company

Price: 49.66 USD

NYSE:KO
Market: NYSE
Market Cap: $213.31 billion
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