NEW YORK (TheStreet) -- The Coca-Cola Co.(KO) - Get Report shares are tumbling 1.4% to $41.70 on Wednesday morning after the beverage maker reported its third quarter fiscal 2015 financial results. Earnings beat, but revenue fell short of estimates.
For the quarter ended October 2, the company earned 51 cents a share on revenue of $11.43 billion.
Analysts had predicted the company to earn 50 cents a share on revenue of $11.54 billion.
In the same period the previous year, the company earned 53 cents a share on revenue of $11.98 billion.
Revenue in the latest quarter was hurt by weakening foreign currencies.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented on Coca-Cola this morning, saying:"Initial read of Coca Cola is slightly better than expected on all lines and carbonated soda and Simply Orange are both doing better and the decline in rate of diet drinks is slowing."
Overall, the company has been focusing on divesting and merging its bottling and distribution assets, according to the Wall Street Journal.
"Despite a continued challenging macro environment, all of us at The Coca-Cola Company remain confident in our strategies and committed to the creation of long-term shareowner value," CEO Muhtar Kent stated.
Separately, TheStreet Ratings team rates COCA-COLA CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
We rate COCA-COLA CO (KO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in net income, notable return on equity, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: KO