ATLANTA (AP) – Coca-Cola Co. (KO) on Wednesday reported second-quarter profit of $3.11 billion.
On a per-share basis, the Atlanta-based company said it had profit of 71 cents. Earnings, adjusted for one-time gains and costs, were 63 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The world’s largest beverage maker posted revenue of $12.16 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $12.15 billion.
Coke shares have fallen slightly more than 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 3 percent. The stock has dropped nearly 1 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