The Coca-Cola Company (NYSE:KO) came out with its second quarter earnings results on Tuesday 21st July 2020 before market open.
The manufacturer of nonalcoholic beverages, reported $ 0.41 income per share for the quarter
On adjusted basis, The Coca-Cola Company reported income for the quarter of $ 0.42 per share, beat the consensus estimate of $ 0.40 income per share by $ 0.02 or 5.00 percent.
The quarterly earnings down 32.79 percent compared with the same quarter last year.
The firm had revenue of $ 7,150.00 million for the quarter, compared to the consensus estimate of $ 7183.92 million. The revenues fell short of analysts estimates by $ 33.92 million or 0.47 percent.
The financial report showed revenues down 28.48 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
James Quincey, chairman and CEO of The Coca-Cola Company, commented: I am proud of the people of the Coca-Cola system as we continue to adjust and accelerate our strategies in this fast changing landscape. We believe the second quarter will prove to be the most challenging of the year; however, we still have work to do as we drive our pursuit of Beverages for Life and meet evolving consumer needs.
