Coca-Cola (KO.US) stock more than 2.0% in the premarket after the company posted its quarterly figures. Beverages giant earned 47 cents per share, above market expectations of 42 cents per share. Revenue of $ 8.6 billion came in slightly below analysts' estimates of $ 8.63 billion. Company said that the ongoing pandemic had a negative effect on sales, but cost-cutting efforts helped it top analysts’ earnings estimates. This year, Coca-Cola is expecting organic revenue growth in the high single digits and adjusted earnings growth in a range of high single digits to low double digits. Meanwhile analysts’ expect that full-year earnings will rise 10.5%.
Coca-Cola (KO.US) stock jumped 2% in the premarket and price is approaching 50 SMA (green line). Source: xStation5
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