Coca-Cola tops Wall Street Q3 estimates

Coca-Cola tops Wall Street Q3 estimates

The Coca-Cola Company (NYSE:KO) reported Q3 financial results before the market open on Tuesday.

The US beverage company posted solid results for the quarter, beating Wall Street analyst estimates for both revenue and earnings per share (EPS).

Revenue reported at $11.063 billion (up by 10% year-over-year) vs. $10.52 billion expected.

EPS at $0.69 per share (up by 7% year-over-year) vs. $0.637 per share estimate.

”Our strong capabilities and consumer insights continue to help us win in the marketplace,” Coca-Cola CEO, James Quincey said in a press release.

”Our business is resilient amidst a dynamic operating and macroeconomic environment. We are investing in our strong portfolio of brands, which is a cornerstone of our ability to deliver long-term value for our stakeholders,” Quincey added.

Shares of Coca-Cola were up by around 1% on Tuesday, trading at $58.49 a share.

Stock performance

• 1 month: +3.39%
• 3 months: -7.78%
• Year-to-date: -1.55%
• 1 year: +7.01%

Coca-Cola price targets

• Deutsche Bank: $59
• Wedbush: $63
• Morgan Stanley: $68
• Credit Suisse: $64
• Wells Fargo: $66
• HSBC: $76
• UBS: $72
• JP Morgan: $70

Coca-Cola is the 30^th largest company in the world with a market cap of $251.88 billion.

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