LONDON (MarketWatch) -- Coca-Cola"s latest results may not be enough to offset the effects of a global slowdown, but they do show that poetry can sometimes be found in an earnings release.
The soft drink giant KO 43.83, +2.56, +6.2%) managed to top expectations with its latest earnings report, as case volumes rose even though revenue slipped in the fourth quarter. See related story.
Investors rewarded the stock with a 5% pop in shares Thursday. Over the longer term, however, Coke has suffered with the rest of the market, down about 29% over the past year.
While Americans continue to drink fewer traditional carbonated beverages, global consumption is still growing, something from which management clearly takes comfort.
Video: MarketWatch Hot Stocks: Beverages
Shares of major beverage companies move in opposite directions, with Coke rising more than 5% on signs of global growth while Diageo loses ground after profit falls short of targets. Matt Andrejczak reports. (Feb. 12)
"I do believe our global business model is relatively resilient, as we bring simple moments of pleasure to our consumers, nearly 1.6 billion times a day, for cents at a time," Kent said in the statement.
One suspects something similar runs through the mind of major shareholder Warren Buffett every time he cracks open another Cherry Coke. "Warren, you down to earth, philanthropic billionaire, you. It"s time for another simple moment of pleasure."
Ahhhh!
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