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Coca-Cola Shares Fall After Earnings Match Expectations

Investing.com - Coca-Cola (NYSE:KO) shares dipped in premarket trade on Thursday, after the company reported fourth-quarter earnings that were in

Investing.com - Coca-Cola (NYSE:KO) shares dipped in premarket trade on Thursday, after the company reported fourth-quarter earnings that were in line with expectations as results were impacted by bottle refranchising and currency headwinds.

The beverage and snack giant reported earnings per share of $0.43, matching estimates.

Revenue totaled $7.1 billion, roughly in line with forecasts of $7.06 billion.

Organic revenue, or sales from its core beverage business, rose 5%, led by volume growth for Diet Coke and Coca-Cola Zero Sugar.

"Our results demonstrate progress in our transformation as a consumer-centric, total beverage company and the power of a more strategically aligned system," said CEO James Quincey."

Coca-Cola's stock fell 1.7% in premarket trade to $48.90.

Coca-Cola follows other major Consumer/Non-Cyclical sector earnings this month


On February 7, Philip Morris reported fourth quarter EPS of $1.25 on revenue of $7.5B, compared to forecasts of EPS of $1.17 on revenue of $7.39B.

Altria earnings matched analyst's expectations on January 31, with fourth quarter EPS of $0.95 on revenue of $4.79B. Investing.com analysts expected EPS of $0.95 on revenue of $4.81B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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