47.40 +0.18 (0.38%)
Before hours: 8:12AM EDT
|Bid||47.28 x 1000|
|Ask||47.40 x 1100|
|Day's range||46.73 - 47.77|
|52-week range||36.27 - 60.13|
|Beta (5Y monthly)||0.54|
|PE ratio (TTM)||22.28|
|Earnings date||16 Oct 2020 - 20 Oct 2020|
|Forward dividend & yield||1.64 (3.47%)|
|Ex-dividend date||14 Sep 2020|
|1y target est||53.45|
Few brands possess the long history and pedigree of IBM (NYSE: IBM) and Coca-Cola (NYSE: KO). Coca-Cola chairman and CEO James Quincey believes Q2 "will prove to be the most challenging of the year."
(Bloomberg) -- Facebook Inc.’s second-quarter sales topped analysts’ highest estimates, rebounding from a pandemic-fueled disruption to digital advertising earlier in the year as its social media apps continued to draw more users.Revenue rose 11% to $18.7 billion, compared with the $17.3 billion average analyst projection. Facebook’s main social network logged 2.7 billion monthly active users in the period, according to a statement Thursday, compared with the 2.63 billion average estimate of analysts polled by Bloomberg. Shares jumped about 6.5% in late trading.Facebook, whose business model is built on collecting user information so ad messages can reach the most fruitful targets, made the case that such targeting is now an essential service for small businesses forced to close storefronts during the Covid-19 outbreak. On a conference call, Chief Executive Officer Mark Zuckerberg said government privacy regulations -- some already in progress, some threatened for the future -- “would reduce opportunities for small businesses so much,” at a time when their livelihoods depend on reaching out to locked-down customers. “That would probably be felt at a macroeconomic level, and is that really what policymakers want in the middle of a pandemic in recession?” Zuckerberg said.Facebook shares soared as high as $254 in extended trading following the report, on track to reach a record, after closing at $234.50. The stock had gained 14% so far this year.The better-than-forecast report shows advertisers were willing to boost budgets in the second quarter after holding off earlier in the year. Profit doubled to $5.18 billion, or $1.80 a share, beating the $1.39 per-share average estimate. Because of Facebook’s vast reach and the rise in usage during the pandemic, the company’s results have been able to withstand a broader economic slowdown better than many other large companies.Most of Facebook’s advertising revenue comes from small and medium-sized businesses that have few other options to reach customers. But not all advertisers are happy with the Facebook option. In the current quarter, Facebook is confronting an advertiser boycott, after civil rights leaders called on major brands to protest the company’s handling of harmful content and misinformation. More than 1,000 advertisers, from Verizon Communications Inc. to Coca-Cola Co., pulled promotions from Facebook starting in July.Still, Facebook said ad revenue in the first three weeks of July was in line with the second quarter’s 10% growth rate, taking into account “the impact from certain advertisers pausing spend on our platforms related to the current boycott.”Facebook’s problems are “short-term and not structural, as FB has a good track record of managing advertiser concerns,” Mizuho Securities analyst James Lee wrote in a note to investors before the report.The Menlo Park, California-based company said that every month, 3.14 billion people use at least one of its products, including photo-sharing app Instagram and the WhatsApp messaging platform. Facebook said user growth is likely to slow or flatten as shelter-in-place orders are lifted. The company has continued to hire rapidly during the pandemic, and ended the quarter with 52,534 employees. That’s up 32% from a year earlier.Researcher EMarketer attributed the positive quarterly results to Instagram. Facebook doesn’t break out revenue for Instagram, though people familiar with the matter have said the mobile app brings in more than a quarter of Facebook’s sales.“Instagram has played a major role in Facebook’s ability to withstand the effects of the pandemic,” said EMarketer analyst Debra Aho Williamson. “Its success is helping to buoy Facebook as a whole.”The company’s earnings report was delayed from Wednesday, the day of an antitrust subcommittee hearing in the U.S. House, where representatives for hours interrogated Chief Executive Officer Mark Zuckerberg, alongside other tech leaders. Armed with documents collected during the inquiry, the lawmakers asked Zuckerberg about Facebook’s acquisitions of WhatsApp and Instagram, which Zuckerberg admitted were purchased in part to remove competition.Zuckerberg also told the Congressional panel that he was listening to the advertiser boycott, but was “not going to set our content policies because of advertisers. I believe that that would be the wrong thing to do.”In its outlook, Facebook said it expects business to become more challenging because of new regulations, like the California Consumer Privacy Act, as well as changes to mobile operating platforms “which we anticipate will be increasingly significant as the year progresses.” Apple’s iOS 14 smartphone operating system, soon to be released, will put restrictions on tracking users across apps -- a tool that Facebook relies on for targeting mobile ads.(Updates with details from conference call in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Coke's dividends and long-term growth are attractive to investors seeking stability and name recognition.
Though Robinhood investors are best known for chasing highly volatile stocks, they've latched onto three stodgy companies.
Coca-Cola is massively streamlining its businesses in a bid to push for a more efficient business plan. Let's see how feasible it could be.
The iconic brand's focus on away-from-home sales was a big liability during the early days of the COVID-19 pandemic.
Zacks Rank 3 (Hold) soft drink bellwethers Coca-Cola Company (KO) reported earnings on Jul 21 before market open and PepsiCo Inc. (PEP) reported results early last week.
Coke's management offered a detailed plan for managing through the COVID-19 pandemic, supported by one simple but telling chart. Coca-Cola's case volume fell 16% year over year. The concepts on display here are simple enough: Heavy lockdowns hurt Coca-Cola's sales more, especially in markets where a lot of the company's sales are poured through soda fountains.
At this time, I'd like to welcome everyone to the Coca-Cola Company second-quarter earnings results conference call. Media participants should contact Coca-Cola's media relations department if they have any questions.
During an investor call today, Coca-Cola (NYSE: KO) Chief Executive Officer James Quincey outlined the soft drink giant's strategic plan to cut many of its brands, ridding itself of "zombie" product lines while boosting support for successful brands. During the call, Quincey noted that out of the company's 400 brands, 200 generate 98% of revenues, while the other 200 manage to eke out just 2%. Quincey says the company previously failed to eliminate brands even if they failed to generate rapid growth, noting, "We have not been assertive enough and directive enough at weeding out the explorers that have not worked so we can redirect resources onto explorers and challengers that have the most opportunity."
The Dow Jones Industrial Average (DJINDICES: ^DJI) was leading the charge on Tuesday, up about 1.1% at 12:40 p.m. EDT and outperforming both the S&P 500 and the Nasdaq Composite by wide margins. Shares of International Business Machines (NYSE: IBM) and Coca-Cola (NYSE: KO) rose on Tuesday following earnings reports from both companies. IBM beat estimates across the board, while Coca-Cola was only able to muster mixed results.
Coca-Cola is starting to get some of its fizz back. The beverage giant said Tuesday demand for its sodas was improving even as the company suffered a 28% plunge in quarterly sales. As the lockdowns eased, a key indicator of demand - unit case volume trends - improved from a drop of 25% in April to a roughly 10% decline in June. The company benefits greatly from the reopening of businesses because it gets a big chunk of its revenues from soft drinks and concentrates it sells to restaurants and theater operators such as McDonald's and AMC Entertainment. Coca-Cola said it expects the improvement in its away-from-home sales to continue as lockdowns further ease in the second half of this year. But it called its past quarter one of its "most challenging." Investors chose to look ahead at the improving sales environment, driving Coke shares higher in early trading Tuesday.
Coca-Cola (NYSE: KO) reported on Tuesday that its second-quarter revenue dropped 28% compared with the year-ago quarter, with organic revenue (which excludes currency impacts, acquisitions, or divestitures) down 26%. Coca-Cola said its revenue declines were led by a 22% drop in concentrate sales, largely caused by weak away-from-home sales, as bars and restaurants remained closed or relied solely on takeout during the pandemic. Coca-Cola said unit case volume sales dropped 16% for the quarter, but gradually increased throughout the time period.
Coke (KO) delivered earnings and revenue surprises of 5.00% and -0.05%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
The Coca-Cola Company today reported second quarter 2020 results and provided an update on strategic actions that are positioning the system to emerge stronger from the ongoing coronavirus pandemic. The Coca-Cola system remained agile in the second quarter, with a focus on maintaining a safe environment for employees while also providing necessary products and services to consumers, customers and communities during this unprecedented time.
Coca-Cola has suffered its steepest quarterly sales drop in at least 25 years, in stark contrast to a resilient performance from its rival PepsiCo and raising questions about the drinks company’s defensive qualities. The sharp turnround in Coca-Cola’s fortunes contrasts with its results during the global financial crisis and its aftermath, when the company demonstrated it could outperform in recessions. Revenues at Coca-Cola, whose biggest shareholder is Warren Buffett’s Berkshire Hathaway, rose 11 per cent in 2008 and lost only 3 per cent in 2009.
Shares of tech giant Microsoft (NASDAQ: MSFT) surged on Monday as analysts raised their price targets ahead of the company's earnings report. Meanwhile, Coca-Cola (NYSE: KO) stock headed lower as investors braced for steep declines in revenue and profit. Analysts are growing increasingly optimistic on Microsoft despite the pandemic.
Everyone is still eating at home amidst the COVID-19 pandemic in a big way. Yahoo Finance speaks with the CEO of Cheerios and Dunkaroos maker General Mills.