Shares of The Coca-Cola Company Rise on Flat Sales and Fresh Earnings

Before you go, we thought you'd like these...
Before you go close icon

Coca-Cola shares rose 2.8% in pre-market trading, following the release of Coke's first-quarter results this morning.

Net revenues fell 4% year over year to $10.6 billion. Case volumes increased by 2%. In its flagship North American market, soda volume slipped 1% as the company raised prices. Stripping out currency exchange headwinds and the effect of structural changes to Coca-Cola's German operations, comparable sales grew by 2%. Notably, Coca-Cola changed the way it translates Venezuelan bolivars into U.S. dollars and recorded a $247 million charge to reflect the new policy.

GAAP earnings fell 6% to $0.36 per share while non-GAAP, currency-neutral earnings climbed 5% higher to $0.48 per share.


Sales were in line with Wall Street estimates. Analysts pegged earnings at $0.44 per share, in line with Coke's reported non-GAAP results before backing out the Venezuelan currency effects. Taking the currency adjustments into consideration, Coca-Cola beat the Street view by 10%.

Coca-Cola CEO Muhtar Kent promised to accelerate marketing efforts around the upcoming FIFA world cup.

"All of us at The Coca-Cola Company remain confident in our ability to deliver on our strategies while further strengthening our foundation for profitable and sustainable long-term growth toward our 2020 Vision," Kent said in a prepared statement.

-- Material from The Associated Press was used in this report.

link

The article Shares of The Coca-Cola Company Rise on Flat Sales and Fresh Earnings originally appeared on Fool.com.

Anders Bylund has no position in any stocks mentioned. The Motley Fool recommends Coca-Cola. The Motley Fool owns shares of Coca-Cola and has the following options: long January 2016 $37 calls on Coca-Cola and short January 2016 $37 puts on Coca-Cola. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going
20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job 20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job
Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport