Summary: Coca-Cola beat Wall Street estimates and reported a 14% increase in third quarter sales, which were bolstered in Europe by the company's World Cup campaign, and in emerging markets such as China, South America and the Middle East. In spite of these gains, management expressed dissatisfaction with U.S. and Japanese sales as well as the lackluster performance of its non-carbonated beverages. Reported earnings for the quarter were $1.46 billion, or 62 cents a share, bettering last year's profit of $1.28 billion, or 54 cents and exceeded Thomson Financial's projection of 59 cents a share. At the close, the stock increased 2.1% to $44.88. Coca-Cola will promote its Dasani water brand in the U.S. and Cherry and Diet Coke in Japan to improve sales for the fourth quarter in those countries.
Potentially impacted stocks and ETFs: Coca-Cola (KO) • Competitors: Pepsi (PEP), Cadbury-Schweppes (CSG)
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