Coca-Cola Posts Q3 Earnings Just Above Wall Street Expectations

By Trey WilliamsMarketsMarketWatch Pulse

Coca-Cola Co. shares saw a 1% pop after the beverage company reported third-quarter earnings and revenue just above Wall Street's expectations. The company reported net income of $1.05 billion, or 24 cents per share, down from $1.4 billion, or 33 cents per share during the year earlier period. Adjusted earnings per share were 49 cents, nudging past FactSet's 48 cents consensus. Revenue for the quarter hit $10.6 billion, which is down from last year's $11.4 billion, but above the FactSet consensus of $10.5 billion. The company said it expects full-year adjusted earnings per share to decline 4% to 7% vs. $2 in 2015, while the FactSet consensus expects a 4% to 5% drop. Coca-Cola shares are down 1% in the year to date, underperforming the S&P 500 Index , which is up nearly 5%.

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