Coca-Cola (NYSE:CCE) saw its profit fall in the most recent quarter.
Earnings and Revenue Both EPS and revenues failed to meet Wall Street expectations as The company posted EPS of 67 cents a share and revenues of $2.21 billion. Analysts were expecting EPS of 73 cents a share and revenues of $2.27 billion.
The company's net income for the quarter fell 16.7% to $205 million. Revenue fell 8.3% from $2.41 billion in the same period last year.
Company Fundamental Trends Last quarter's falling profit ends a streak of three consecutive quarters of year-over-year profit increases. Slumping revenue in the last quarter ends The company's streak of three consecutive quarters of revenue increases.
History Against Expectations The company missed estimates last quarter after surpassing the mark the quarter before. It reported net income of 36 cents versus a mean estimate of net income of 33 cents per share.
Official Comment: "As we face a unique combination of unfavorable weather and ongoing marketplace challenges, we continue to closely manage each element of the business to drive results and deliver against our objectives," said John F. Brock, chairman and chief executive officer. "By executing against our strong sales and operating plans, controlling costs, and leveraging our strong balance sheet, we remain confident in our ability to create increasing value for our customers, and importantly, for our shareowners."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.