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Coca-Cola stock jumps as strong sales of Coke Zero Sugar continue to drive revenue growth

Coca-Cola on Friday reported quarterly earnings that met analysts' expectations. Read more...

Marcos Brindicci | Reuters

Coca-Cola on Friday reported quarterly revenue that topped analysts’ expectations as more customers are drawn in by healthier options, like Zero Sugar soda and smaller size cans.

Shares of the company jumped 1.6% in premarket trading.

“Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system,” CEO James Quincey said in a statement.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 56 cents, adjusted, vs. 56 cents expected
  • Revenue: $9.5 billion vs. $9.4 billion expected

Coke reported fiscal third-quarter net income of $2.6 billion, or 60 cents per share, up from $1.8 billion, or 44 cents per share, a year earlier.

Excluding items, the beverage giant earned 56 cents per share, in line with the 56 cents per share expected by analysts surveyed by Refinitiv.

Net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion.

This story is developing. Please check back for updates.

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