By Miguel Mike Medina
Coca-Cola is having a sensational moment with its results. The giant soda company exceeded Wall Street expectations with its third-quarter results.
Coca-Cola continues to reign with impressive annual sales and profit targets. The company’s share price increased by three percent on Tuesday.
Adjusted earnings per share: 82 cents adjusted versus 78 cents expected
Adjusted revenue: 12.41 billion adjusted versus 12.39 billion
Billion expected
Shares of Netflix fell after the company posted its third-quarter earnings. The streaming giant fell 7 percent on Tuesday. However, Netflix’s revenue increased by 17 percent. Netflix is projecting $45.1 billion in revenue for this year, representing a 16 percent increase from last year.
In addition, Netflix announced on Tuesday that the platform is expanding the reach of its animated films with a dual product partnership with companies Hasbro and Mattel.
Warner Bros. Discovery Inc. said it’s considering a possible sale after receiving unsolicited interest from multiple parties. Netflix Inc. and Comcast Corp. are among the companies weighing bids for parts of the media and entertainment company.
Earlier this year, Warner Bros. announced plans to split into two businesses, one focused on cable TV and the other on streaming and studios.
Paramount has also discussed acquiring Warner Bros. with Apollo Global Management Inc., according to people familiar with the matter.
Miguel Mike Medina is the publisher of The MMM Journal. He can be reached at medinamiguelmike@gmail.com and themmmjournal@gmail.com
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