Coca-Cola Enterprises Beats Street 2Q Forecasts

Coca-Cola Enterprises Inc. (CCE) on Thursday reported second-quarter net income of $176 million.

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ATLANTA (AP) — Coca-Cola Enterprises Inc. (CCE) on Thursday reported second-quarter net income of $176 million.

The Atlanta-based company said it had profit of 75 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 79 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The seller of Coca-Cola drinks in Europe posted revenue of $1.93 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.89 billion.

Coca-Cola Enterprises shares have climbed 4.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 percent. The stock has decreased 3 percent in the last 12 months.

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