Shares of soft drink giant Coca-Cola Co. (NYSE: KO) have set a new 52-week high in early morning trading after the company posted strong third-quarter earnings this morning. As we noted in our earnings preview last week, analysts had been expecting to see the company report 68 cents a share for its recent quarter, but were surprised to see the company show actual earnings of 71 cents a share.
The quarter got a good boost from the company's overseas business. Overall, the company had a unit case volume increase of 6% during the quarter. Internationally, case volumes rose by a respectable 8%, with North American case volumes rising only 1%.
The stock hit a new 52-week high this morning, trading as high as $58.89 to start off the day. Shares are currently trading up 1.8% to $58.80, up $1.04.
Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer
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