ATLANTA (AP) – Coca-Cola Co. (KO) on Tuesday reported fourth-quarter net income of $770 million.
The Atlanta-based company said it had profit of 17 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 44 cents per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The world’s largest beverage maker posted revenue of $10.87 billion in the period, also exceeding Street forecasts. Analysts expected $10.77 billion, according to Zacks.
Coke shares have fallen slightly more than 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has decreased nearly 1 percent. The stock has risen nearly 9 percent 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