Coke tops Street 3Q forecasts

Markets Associated Press

This Thursday, April 28, 2016, photo shows bottles of Coca-Cola in Concord, N.H. Coca-Cola Co. reports financial results Wednesday, Oct. 26, 2016. (AP Photo/Jim Cole)

This Thursday, April 28, 2016, photo shows bottles of Coca-Cola in Concord, N.H. Coca-Cola Co. reports financial results Wednesday, Oct. 26, 2016. (AP Photo/Jim Cole) (The Associated Press)

Coca-Cola Co. (KO) on Wednesday reported third-quarter profit of $1.05 billion.

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On a per-share basis, the Atlanta-based company said it had profit of 24 cents. Earnings, adjusted for non-recurring costs, were 49 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The world's largest beverage maker posted revenue of $10.63 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $10.54 billion.

Coke shares have decreased 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 5 percent. The stock has fallen slightly in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KO at http://www.zacks.com/ap/KO

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Keywords: Coca-Cola, Earnings Report, Priority Earnings