Shares of Coca-cola Set For Breakout Amid Golden Cross Pattern The Coca-Cola Company (NYSE: NYSE:KO ) on Tuesday reported first-quarter sales below analysts' estimates but profit that topped expectations, as the beverage giant navigates tariff uncertainty.
Earnings Overview
The company said its "comparable," or adjusted, earnings per share came in at $0.73 on revenue that declined 2% YoY to $11.1 billion. Analysts expected $0.72 and $11.22 billion, respectively.
CEO James Quincey said:
"Despite some pressure in key developed markets, the power of our global footprint allowed us to successfully navigate a complex external environment."
Coca-Cola Says Operations 'Subject to Global Trade Dynamics'
In an update to its full-year outlook, Coca-Cola said that its "operations are primarily local, however, it is subject to global trade dynamics which may impact certain components of the company’s cost structure across its markets. At this time, the company expects the impact to be manageable."
Technical Outlook
Shares of Coca-Cola ( NYSE:KO ) were down about 1% shortly after the market opened Tuesday. They entered the day up about 15% since the start of the year. As of the time of writing, the stock is up 0.49%.
Albeit earnings missed estimate, the 4 hour price of Coca-Cola shares (NYSE: NYSE:KO ) depicts a golden cross pattern- this is a metric that is generally seen as a bullish reversal with its counterpart known as "Death cross". With the RSI at 51 and the Golden cross pattern, NYSE:KO might be on the cusp of a bullish campaign.
