Coca-Cola stock was trading at $58.99 at close: 03:59 PM EDT
Coca-Cola (NYSE:KO) reported third-quarter earnings that exceeded expectations. European, Middle Eastern, and African regions saw a 20% increase in organic sales during the quarter, while Latin America saw an 18% increase, exceeding the +9.8% estimate. North America saw a 14% increase in organic sales.
During the quarter, unit case volume increased by 4% on a wide basis across all operating segments. Notably, the strength in away-from-home channels and continued market investments drove the volume performance. While developing and emerging markets increased by low single digits, developed markets expanded by mid-single digits. Western Europe, Mexico, and the United States led growth in established countries, while India, China, and Brazil led growth in developing and emerging markets.
Compared to last year, the operating margin was 29.5% of sales. The world’s largest beverage company saw its comparable operating margin contract as the impact of the BodyArmor acquisition, increased operational costs, a rise in marketing spending over the prior year, and currency headwinds more than offset the company’s strong topline growth. In the near future, Coca-Cola (NYSE:KO) projects organic revenue growth of 14% to 15%.
Coca-Cola stock performance against the market
In response to the Q3 earnings announcement, Coca-Cola (NYSE:KO) shares increased 2.38% in premarket trading to $59.000. The first half of Tuesday’s trading day saw gains for the major stock market indices, driven primarily by robust small-cap price movement. Following earnings releases, General Motors (NYSE:GM) and Dow Jones component Coca-Cola (NYSE:KO) climbed, while 3M (MMM) experienced a decline.
With a 2.9% increase, the Russell-2000 small-cap index demonstrated strong leadership. With an increase of 1.9%, the Nasdaq composite beat blue chips. The S&P 500 increased by 1.2%, but the Dow Jones Industrial Average only increased by 0.8%. Compared to Tuesday at the same hour, volume on the NYSE and Nasdaq decreased.
Featured Image – Megapixl © Multilisks
Author Jowi Kwasu 
