Investing.com – Coca Cola moved lower in pre-market trade after fast food chain reported better-than-expected second quarter profit on Wednesday, but missed consensus on revenue.
Specifically, the world’s largest beverage company reported earnings-per-share (EPS) of $0.60.
Revenue in the April–June period fell by 5.0% to $11.54 billion.
Analysts had forecast EPS of $0.58 on revenue of $11.76 billion.
With regard to the outlook, Coca Cola now expects organic revenue to rise 3%, down from its prior forecast of 4% to 5%.
The company added that full-year comparable EPS was expected to be down 4% to 7% versus the prior year’s comparable EPS of $2.00.
Investors looked ahead to the company’s conference call at 9:00AM ET, or 13:00GMT.
After the report, shares in Coca-Cola Company (NYSE:KO) traded down 1.27% to $44.31 in the pre-market, down from Tuesday’s closing price of $44.88.