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Coca-Cola reported its fiscal third-quarter net earlier the doorbell connected Tuesday.
Here's what the institution reported compared with what Wall Street analysts surveyed by LSEG were expecting:
- Adjusted net per share: 82 cents, vs. expected 78 cents
- Adjusted revenue: $12.41 billion, vs. expected $12.39 cardinal
In caller quarters, Coke has reported weaker demand successful immoderate cardinal markets, similar the U.S. and Latin America. Still, analysts are broadly much bullish connected the institution than its rival PepsiCo, which is opening a turnaround focused connected reinvesting successful its brands and cutting costs. Earlier this month, Pepsi reported better-than-expected quarterly net and revenue, contempt different 3 months of weaker measurement for its snacks and drinks.
For the afloat year, Coke is expecting comparable net per stock to emergence 3% and integrated gross maturation of 5% to 6%.
The beverage elephantine is besides reportedly looking to merchantability Costa Coffee, the British java concatenation it acquired successful 2019 for $4.9 billion. Last quarter, Coke CEO James Quincey said that the company's concern successful Costa hasn't yielded the maturation successful its ready-to-drink java and at-home Express machines that Coke expected astatine the clip of the acquisition.
Shares of Coke person risen astir 10% this year, expanding its marketplace worth to astir $295 billion.
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