Coca-Cola's adjusted earnings per share came in at $0.84, which is $0.04 above the average analyst estimate of $0.80. Revenue also beat expectations, coming in at $12.4 billion versus the expected $11.77 billion, according to investing.com.
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The company's total net revenue grew by 3%, while organic revenue, which excludes certain items for clearer comparison, increased significantly by 15%. This was due to a combination of a 9 percent increase in average price and product mix sold and a 6 percent increase in concentrate sales volume.
Operating profit increased 10 percent, while operating profit margin increased to 21.3 percent from 20.1 percent in the prior year. Adjusted operating margin, which excludes certain comparable items, also improved, reaching 32.8 percent from 31.6 percent in the prior year.
While reported earnings per share fell 5 percent to $0.56, adjusted earnings per share, which excludes certain comparable items, increased 7 percent.
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