Soft drink maker The Coca-Cola Company (KO) said Tuesday that its fourth-quarter profit rose significantly from last year, helped by higher revenue and lower costs.
The Atlanta-based company reported fourth-quarter net income of $1.54 billion U.S., or 66 cents U.S. per share, from $995 million U.S., or 43 cents U.S. per share, in the year-ago period.
Revenue rose 5% from last year, to $7.51 billion U.S.
On average, Wall Street analyst expected a matching profit of 66 cents U.S. per share, on lower revenue of $7.22 billion U.S.
Coca-Cola shares rose 75 cents U.S., or 1.4%, in premarket trading Monday.
The Bottom Line
KO has been recommended shares since July 30, when the stock was trading at $49.28 U.S. The company has a 3.11% dividend yield, based on last night's closing stock price of $52.65 U.S.
The Coca-Cola Company (KO) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of five stars.
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