Coca-Cola Misses First-quarter Earnings Expectations

By Caitlin Huston Markets MarketWatch Pulse

Shares of Coca-Cola Co. were down less than 1% in premarket trade Tuesday after the company missed first-quarter earnings expectations. It reported net income of $1.18 billion, or 27 cents per share, down from $1.48 billion, or 34 cents per share in the year-earlier period. It reported adjusted earnings per share of 43 cents, below the FactSet consensus of 44 cents. Revenue was $9.12 billion, above the FactSet consensus of $8.89 billion. For the full year, it expects adjusted EPS to fall 1% to 3%, compared to $1.91 in 2016. Shares of Coca-Cola have gained 3% in the past three months, compared to the S&P 500's gain of 3.3%.

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