Coca-Cola tops estimates in the second quarter – the stock gains

The Coca-Cola Company (KO) reported its latest financial results for the second quarter before the opening bell in the US on Tuesday, beating Wall Street expectations for the quarter.

World’s largest beverage producer reported revenue of $11.325 billion (up by 12% year-over- year) vs. $10.565 billion expected.

Earnings per share reported at $0.70 per share (up 4% year-over-year) vs. $0.67 per share estimate.

”Our results this quarter reflect the agility of our business, the strength of our streamlined portfolio of brands, and the actions we’ve taken to execute for growth in the face of challenges in the operating and macroeconomic environment,” said James Quincey, Chairman and CEO of Coca-Cola in press release.

”We are staying true to our purpose, executing on our strategy and delivering value for our stakeholders,” Quincey concluded.

The Coca-Cola Company (KO) chart

The stock price gained by 1.64% on Tuesday, trading at $63.18 per share.

Here is how the stock has performed in the past year:

• 1 Month +1.49%
• 3 Month -2.83%
• Year-to-date +6.76%
• 1 Year +10.39%

Coca-Cole price targets

• JP Morgan $70
• Citigroup $60
• Credit Suisse $63
• DZ Bank $69
• Guggenheim $71
• Deutsche Bank $64
• Cowen & Co. $68
• HSBC $72

The Coca-Cola Company is the 29^th largest company in the world with a market cap of $274.01 billion.

You can trade The Coca-Cola Company (KO) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: The Coca-Cola Company, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap