Coca-Cola Trades Higher On Q3 Sales Beat

Coca-Cola KO reported third-quarter earnings of 56 cents per share, which met the analyst consensus estimate. This is a 3.45% decrease over earnings of 58 cents per share from the same period last year.

The company reported quarterly sales of $9.5 billion, which beat the analyst consensus estimate of $9.48 billion by 0.21%. This is a 14.97% increase over sales of $8.263 billion the same period last year.

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Coca-Cola sees fiscal year 2019 operating income up 12-13%, earnings minus 1% to up 1% and estimates fiscal year 2020 sales will be up 1-2%.

"Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system," said James Quincey, CEO of the Coca-Cola Company.

Coca-Cola shares were trading up 1.7% at $54.68 in Friday’s pre-market session. The stock has a 52-week high of $55.92 and a 52-week low of $44.42.