Coke (KO) Astounds
October 15, 2008 by Douglas A. McIntyre
Even if people are feeling poor or are poor, they can still buy a soft drink. Coca-Cola (KO) proved that today with strong earnings. It is extremely good news for companies which sell extremely inexpensive goods to consumers. The best of it is that the ripples may even extend to low-end food chains like McDonald’s (MCD).
Coca-Cola reported third quarter earnings per share of $0.81, an increase of 14 percent versus the prior year quarter on a reported basis
Third quarter net operating revenues increased 9 percent to $8.4 billion.
Operating income in the quarter increased 20 percent $20.2 billion
The stock was up in the pre-market. Other consumer goods companies should move higher on the news as well
Douglas A. McIntyre
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