Search for "SEC Live Filings Digest" to find out more.
The Coca-Cola Company (KO) announced its financial results for the third quarter of fiscal 2013, posting an earnings increase of 5.9% and a 2% increase in unit case volume. The world’s largest beverage company reported a revenue decrease of 2.5% to $12.03B while its gross margin tightened from 60.7% to 60.1%. Earnings improved nearly 6% from $2.31B and $0.50 per share this quarter last year to $2.45B and $0.54 earnings per share. Chairman and CEO Muhtar Kent commented that the company was able to deliver good results despite adverse economic pressures and conditions. Increased material costs and decreased U.S. beverage consumption combined with economic uncertainty in Europe and China, have all played a part in challenging the company’s performance.