Beverages giant Coca-Cola Co. (KO: Quote) reported a rise in its first quarter 2012 net income attributable to shareowners of the company to $2.05 billion from $1.90 billion, with reported GAAP earnings per share improving to $0.89 from $0.82 in the earlier year quarter. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.87 for the quarter. Analysts' estimates typically exclude one-time items.
Items affecting comparability had no net impact on first quarter 2012 reported earnings per share and reduced last year's reported earnings per share by $0.04 per share, the company said.
Quarterly net operating revenues totaled $11.14 billion, up 6% from $10.52 billion, as adjusted, a year ago. Both reported and comparable net revenue for the recent quarter grew 6%, helped by a 3% rise in concentrate sales, positive price/mix of 3%, driven mainly by positive pricing, and a 1% positive impact due to structural change. Eleven analysts estimated revenues of $10.83 billion for the quarter.
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by RTT Staff Writer
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