ATLANTA (AP) — ATLANTA (AP) — Coca-Cola Enterprises Inc. (CCE) on Thursday reported third-quarter net income of $238 million.
On a per-share basis, the Atlanta-based company said it had profit of 96 cents. Earnings, adjusted for one-time gains and costs, were 92 cents per share.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The seller of Coca-Cola drinks in Europe posted revenue of $2.14 billion in the period, missing Street forecasts. Analysts expected $2.22 billion, according to Zacks.
Coca-Cola Enterprises shares have fallen slightly more than 6 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 4 percent. The stock has declined slightly more than 3 percent in the last 12 months.