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Coca-Cola Company Shares Up 3% On Q1 Results; Affirms FY Guidance

The Coca-Cola Company (KO) reported that its first-quarter comparable EPS from continuing operations rose 2% to $0.48, despite an 11-point currency headwind. EPS included an estimated 2 cent benefit from timing, primarily from the bottler inventory build related to Brexit. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.46 for the quarter. Analysts' estimates typically exclude special items.

For the first-quarter, reported net revenues increased 5% to $8.0 billion, and organic revenues were up 6% including a 2% benefit from timing. Analysts expected revenue of $7.89 billion for the quarter.

James Quincey, CEO, said: "We remain confident in our full year guidance as we continue to make progress on our transformation as a consumer-centric total beverage company."

Shares of Coca-Cola Company were up more than 3% in pre-market trade on Tuesday.

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