ATLANTA — Coca-Cola Enterprises Inc. (CCE) on Thursday reported third-quarter net income of $168 million.
On a per-share basis, the Atlanta-based company said it had profit of 72 cents. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were 84 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The seller of Coca-Cola drinks in Europe posted revenue of $1.82 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.89 billion.
Coca-Cola Enterprises shares have risen 16 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1.5 percent. The stock has risen 19 percent in the last 12 months.
Keywords: Coca-Cola Enterprises, Earnings Report