Coca-Cola Beats on Q1 Revenue and Earnings Per Share, Stock Slumps Anyway
Despite beating analyst estimates on at least two key metrics, Coca-Cola (NYSE: KO) is finding the investor response to its first-quarter 2020 earnings release flat rather than fizzy, with the stock down approximately 1.6% so far in Tuesday trading. The beverage company reported earnings per share (EPS) and revenue both well above predictions. However, its expectations of lower second-quarter sales because of the coronavirus has investors bidding its share price downward.
In the matter of earnings per share, Coca-Cola announced adjusted EPS of $0.51, seven cents higher than the $0.44 anticipated by analysts. While net revenue dropped by 1% year over year compared to Q1 2019, it handily exceeded analyst projections of $8.3 billion, reaching nearly $8.6 billion and beating by $280 million overall.
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Source Fool.com
