Coca-Cola (KO) reported better-than-expected fourth-quarter results Tuesday, sending shares of the world’s biggest soft drink maker higher in premarket trading.
The beverage giant reported $11.54 billion in revenue, above the $10.85 billion posted a year ago and the $10.77 billion Visible Alpha consensus. Adjusted earnings per share (EPS) of $0.55 beat last year’s $0.49 and the $0.52 expectation.
Shares of Coca-Cola, which entered Tuesday up roughly 8% over the past year, rose more than 3% immediately following Tuesday’s report.
Last quarter, Coca-Cola shares lost ground as a surprise drop in unit case volumes offset better-than-expected results. Global unit case volumes grew 2% in Q4, led by a 6% gain in the Asia Pacific region.
Coca-Cola’s results come a week after rival PepsiCo (PEP) reported sales that fell short of estimates for a third consecutive quarter.
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