Coca-Cola Co (NYSE: NYSE:KO) shares are trading higher Tuesday after the company reported better-than-expected financial results.
Coca-Cola said second-quarter revenue increased 12% year-over-year to $11.3 billion, which beat the estimate of $10.54 billion, according to data from Benzinga Pro. The company reported quarterly earnings of 70 cents per share, which beat the estimate of 67 cents per share.
Coca-Cola said operating margins were 20.7% in the quarter versus 29.8% in the prior year. Cash flow from operations reached $4.5 billion year-to-date.
Coca-Cola said it gained value share in total nonalcoholic ready-to-drink beverages during the quarter.
"Our results this quarter reflect the agility of our business, the strength of our streamlined portfolio of brands, and the actions we've taken to execute for growth in the face of challenges in the operating and macroeconomic environment," said James Quincey, chairman and CEO of Coca-Cola.
See Also: Coca-Cola beats On Q2 Earnings With 8% Volume Growth
KO Price Action: Coca-Cola has traded between $67.20 and $57.50 over a 52-week period.
The stock was up 1.06% at $62.85 at time of publication.
Photo: Csaba Nagy from Pixabay.
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