Coca-Cola’s revenue misses Wall Street forecasts
COCA-COLA reported quarterly revenue that came in short of Wall Street expectations yesterday, hurt by declines in Europe and Asia where it sold more lower-priced drinks. Third-quarter net income for Coca-Cola was $2.31bn (£1.43bn), up from $2.22bn a year earlier. Revenue rose one per cent to $12.34bn, while analysts were expecting $12.41bn.
Mattel tops estimates on price increases and cost cuts
BARBIE maker Mattel reported a higher-than-expected quarterly profit yesterday as the world’s largest toy company benefited from raising prices and keeping a tight rein on costs. Net income rose to $365.9m (£227m), up from $300.8m a year earlier. Sales rose four per cent to about $2.08bn, including six per cent for Fisher-Price and 16 per cent for American Girl.
Prescription rebound helps Johnson & Johnson lift sales
JOHNSON & Johnson reported better-than-expected quarterly results yesterday, as prescription drug sales rebounded with the help of newer products and jitters about medical device sales proved unfounded. The firm earned $3bn (£1.86bn) in the third quarter, compared with $3.2bn the previous year. Revenue rose 6.5 per cent to $17.1bn.
Olympic pizza demand helps Domino’s succeed in the States
DOMINO’S Pizza yesterday reported higher quarterly profit, topping Wall Street forecasts, as the Olympics boosted takings. Sales at established restaurants increased more than expected in the United States and abroad, sending shares up 7.1 per cent. Net income grew to $26m (£16.1m) in the quarter ended 9 September from $22.1m a year earlier. Revenue rose 0.5 per cent to $378.1m.