| As of Friday, November 13th: |
As of October 1st, the earnings growth rate was at -24.7%.Of the 463 S&P 500 companies who have reported Q3, 80% beat estimates, 6% were in-line, and 14% were below estimates. The blended earnings growth rate for the S&P 500 for Q3 2009 is currently at -13.8%. (Data provided by Thomson Reuters)
LATEST EARNINGS RESULTS
- US Top Banks Warn Congress on 'Break-Up' Risks
- Fed's Kohn Sees No Asset Bubbles Building in US
- Stocks May Rise Further after Fed Waves on 'Risk Trade'
- Buffett's Berkshire Hathaway Boosts Stake in Wal-Mart
- Microsoft Co-founder Allen Diagnosed with Cancer
- Time Warner to Spin Off AOL on December 9
- Gates Boosts Waste Management, Coca Cola Stakes
- US Cities With Most Underwater Mortgages
- What's Kept Stock Rally Going? Fear, Not Confidence
- Answers to Your Questions: A Path to Economic Disaster?
- 5 Ways to Play the Chinese Markets: Analyst
- Meredith Whitney: Turns Bearish
- 3 Stock Plays on Rising College Costs
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- Nov. 16: Unusual Volume Leaders
- Getting to the Heart of the Merck-Abbott Embargo Break
- What MGM's Sale Could Say About Value of Content
- My Ratings on Lowe's & Home Depot: Analyst
MOST SHARED
- Stocks Overvalued, Recession Will Return: Meredith Whitney
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- BofA Ex-Counsel: I Was 'Stunned' When I Got Fired
- U.S. May Wind Up Green With Envy
- Time Warner to Spin Off AOL on December 9
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Solar Emerges From A Dark Period
- Paulson Betting Unemployment Not Getting Much Worse?
- Stocks May Rise Further after Fed Waves on 'Risk Trade'
- Stanford Receiver to Release Funds Of Frozen Acounts
Text Size 
Coca-Cola reported better-than-expected quarterly profit before one-time items, helped by the weak dollar, and its shares rose 1.6 percent in premarket trade.
 |
Click for more earnings info |
The world's largest soft-drink maker said net income was $1.42 billion, or 61 cents per share, in the second quarter ended June 27, compared with $1.85 billion, or 80 cents per share, a year earlier.
Excluding a charge of 40 cents per share at bottler Coca-Cola Enterprises [CCE
Loading...
()
], which is about 35 percent-owned by Coca-Cola, the company earned $1.01 per share.
Analysts' average earnings forecast was 96 cents per share, according to Reuters Estimates.
Net operating revenue for the quarter rose 17 percent to $9.05 billion.
Coca-Cola [KO
Loading...
()
], which derives about 70 percent of its revenue from outside North America, said 9 percentage points of the revenue increase was due to the weak dollar, which boosts the value of international sales when they are converted to dollars for inclusion in the company's financial statements.
The revenue rise included 3 percentage points from higher sales of drink concentrate, 2 points from bottler acquisitions, and 3 points from higher prices and more sales of higher-priced products.
Overall unit case volume rose 3 percent, led by a 5 percent increase in markets abroad. North American volume was flat.
The company said sales growth was strong in Latin America, China, Turkey, India, Eastern Europe, Southern Eurasia, the Middle East and North and West Africa. Volume fell 1 percent in Japan and the European Union.
Like other soft-drink makers, Coke's U.S. sales have slowed as consumers grapple with soaring food and fuel costs, declining home values and job uncertainty.
Also, increasingly health-conscious consumers have been opting for drinks seen as good for you, such as bottled teas or vitamin-enhanced waters.
The company, whose brands include Minute Maid juice, Powerade sports drink and Dasani bottled water, said it is targeting $400 million to $500 million in annual cost-savings by the end of 2011.
Coke shares fell over 4 percent in early trading on the New York Stock Exchange.
Print
Email
- JC Penney Profit Falls, but Shares Up on Forecast
U.S. department store operator JC Penney forecast earnings for the holiday quarter that could surpass Wall Street expectations, and its shares rose about 8 percent on Friday.
- Disney Profit, Sales Top Forecasts; Shares Jump
Walt Disney shares rose in after-hours trading Thursday after the company reported earnings and revenue that beat analysts' expectations.
- Nordstrom Earnings Miss Forecasts; Shares Take Hit
Nordstrom reported earnings that missed analysts expectations by a penny but beat on revenue, causing the company's shares to fall in after-hours trading.
- JC Penney Profit Falls, but Shares Up on Forecast
- Wal-Mart Holiday Forecast Light, Profit Beats
Wal-Mart Stores posted a higher-than-expected quarterly profit, but forecast earnings during the key holiday quarter that could miss Wall Street estimates as its customers face rising unemployment.
- Wal-Mart Holiday Forecast Light, Profit Beats
- Kohl's Profit Beats Street, But Outlook Falls Short
- Vivendi Profit Up More Than 5%, Keeps 2009 Goals
- Cost Cuts Help BT to Raise Full-Year Guidance
- Applied Materials Profit, Sales Top Wall Street Forecasts
- Macy's Loss Beats Estimates, But Shares Fall on Outlook
- Vodafone Extends Cost-Cutting Scheme, Hits Targets
- Tyco International Profit Falls Less Than Expected
- EA Profit Beats Street, Announces Job Cuts
- Priceline Crushes Profit Forecasts; Shares Jump
- Berkshire Hathaway Says Net Income Tripled
- Sun Micro Sales Fall as Oracle Deal Remains Delayed
- AIG in the Black Again, Operating Profit Tops View
- Starbucks Profit Beats Forecasts; Shares Rise
- Fannie Mae Seeks $15 Billion in Aid After Posting Loss
- Nvidia Profit, Sales Top Wall Street's Forecast
Data is a real-time snapshot *Data is delayed at least 15 minutes