Earnings Update: Coca-Cola (NYSE: KO)
Coca-Cola reported Q1 earnings per share of $0.48, which was above the FactSet estimate for $0.42.
Revenues for the quarter were reported at $10.71 billion, which was above the estimate of $10.63 billion.
Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company said, “We are pleased with our solid progress on the implementation and execution of our global strategic initiatives. Though we are still in the early stages, we see some initial positive indicators that we have the right strategies in place to accelerate growth. However, we continue to view 2015 as a transition year as the benefits from the announced initiatives will take time to fully materialize amidst an uncertain and volatile macroeconomic environment. We remain committed to leveraging our superior brand portfolio together with our unparalleled global distribution system to continue creating long-term shareowner value.”
Shares of KO last traded at $41.93, which is above the last closing price of $40.78.
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