Why Investors Soured on Coca-Cola Stock Today
Coca-Cola(KO) The Motley Fool·2024-10-24 05:16
A double beat on third-quarter earnings wasn't good enough for the market.Like a can of soda going flat, there was little fizz in Coca-Cola (KO -2.07%) stock on Wednesday. Investors traded out of it on news of third-quarter results, sending the share price down to close in excess of 2%. Even the lethargic S&P 500 index did better, closing barely over 1% below Tuesday's level.Slight beats in the third quarterIn the quarter, Coca-Cola booked net revenue of $11.9 billion, which was 1% down from the same period ...