Coke Entrprises higher profit tops expectations
CHICAGO (Reuters) - Coca-Cola Enterprises Inc (CCE.N) reported a bigger-than-expected increase in quarterly profit on Wednesday, helped by higher prices, and raised its full-year outlook.
The largest bottler of Coca-Cola Co (KO.N) drinks earned $247 million, or 50 cents per share, in the third quarter, up from $214 million, or 44 cents per share, a year earlier.
Excluding items, it earned 51 cents per share, topping analysts' average forecast of 46 cents, according to Thomson Reuters I/B/E/S.
Sales fell 3 percent to $5.57 billion.
The bottler said it now expects to earn $1.54 to $1.57 per share this year. Last month, it said it expected earnings to be at the higher end of its previous forecast of $1.44 to $1.49 per share.
(Reporting by Jessica Wohl, additional reporting by Martinne Geller in New York; editing by John Wallace)
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