A Surprising Source Fuels Coca-Cola's Robust Second Quarter

Back in February, investors panned a modest full-year 2019 outlook by The Coca-Cola Company (NYSE: KO), as the global beverages manufacturer envisioned a slower annual organic revenue growth rate than it had booked in 2018.

Any traces of investor angst have been erased by the company's latest earnings report, released on Tuesday. Results include a tweaked financial outlook that projects organic revenue expansion of at least 5% in 2019 -- which will equal the pace set last year. Investors responded positively to this revision and lauded the source of the company's underlying strength (which we'll discuss below): Shares jumped nearly 6% in Tuesday's trading session.

Note that all comparable numbers that follow refer to those of the prior-year quarter.

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