Coca-Cola beats Wall Street estimates for Q3
28 October 2021The Coca-Cola company reported their Q3 financial results before the opening bell on Wednesday.
The company reported total revenue of $10 billion on the third quarter of 2021, beating analyst forecast of $9.75 billion. Earnings per share also topped analyst expectations on Wall Street at $0.65 per share vs. $0.58 per share expected.
”Our strategic transformation is enabling us to effectively navigate a dynamic environment and emerge stronger from the pandemic,” said James Quincey, Chairman and CEO of The Coca-Cola Company.
”We are updating our full-year guidance to reflect another quarter of momentum in the business. While the recovery continues to be asynchronous around the world, we are investing for growth to drive long-term value for the system. Our strong system alignment and networked organization are helping us unlock enormous potential in our brands and across our markets,” Quincey added.
Coca-Cola chart (1Y)
Coca-Cola shares trading higher after the latest financial reports, up by around 2% during the trading day on Monday. The stock is up by over 11% in the past year at $55.58 per share.
The Coca-Cola company is the 43rd largest company in the world, with a total market cap of $239.83 billion.
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Sources: Coca-Cola, Refinitiv, TradingView, CompaniesMarketCap
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