Keurig Dr Pepper rises as cold drinks drives earnings beat |
Keurig Dr Pepper rises as cold drinks drives earnings beat
Keurig Dr Pepper Inc. shares rose after revenue and earnings beat expectations as strong sales of cold beverages and in international markets offset a decline in coffee.
The beverage company, which makes Dr Pepper soda and Keurig coffee, reported first-quarter revenue of $3.98 billion, topping the average of analyst estimates. Earnings per share, excluding some items, also exceeded projections.
Barclays analyst Lauren Lieberman said that the company’s cold drink sales were “in particular standing out” in a note Thursday morning. Their revenue growth was high enough to suggest strong sales from both........