ATLANTA — Coca-Cola Enterprises Inc. (CCE) on Thursday reported first-quarter net income of $96 million.
On a per-share basis, the Atlanta-based company said it had net income of 40 cents. Earnings, adjusted for one-time gains and costs, were 42 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The seller of Coca-Cola drinks in Europe posted revenue of $1.63 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.68 billion.
Coca-Cola Enterprises shares have climbed roughly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has dropped 1 percent in the last 12 months.
Keywords: Coca-Cola Enterprises, Earnings Report