Coca-Cola Company (NYSE: KO) Reports 55% Profit Rise
February 09, 2010 10:14 AM
The Coca-Cola Company (NYSE: KO) reported on Tuesday that its 4th quarter profits climbed 55%.
The Coca-Cola Company reported earnings of $1.54 billion, or 66 cents per share, in the 4th quarter vs. $995 million, or 43 cents per share, during the same quarter a year ago.
Revenue at the Atlanta based soft drink maker rose to $7.51 billion from $7.13 billion.
J.P. Morgan (NYSE: JPM) downgraded shares of Coca-Cola to Neutral from Overweight last month because of slower volume growth in developed markets, which led to lower product prices.
However, the Coca-Cola Company reported that its unit case volume, which is the number of actual drinks sold, rose 5% in the 4th quarter. The overseas markets saw 6% growth, while unit case volume in India was up 20% and in China, 29%.
Shares of The Coca-Cola Company were up nearly $2, or nearly 4%, in morning trading.
