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Coca-Cola reports seventh straight drop in quarterly revenue

Thursday, February 9, 2017 - 20:19

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Coca-Cola Co reported a 6 per cent drop in quarterly revenue, the seventh straight drop, hurt by high levels of inflation in certain Latin American countries and as a strong dollar reduced the value of sales outside the United States.

[LONDON] Coca-Cola Co reported a 6 per cent drop in quarterly revenue, the seventh straight drop, hurt by high levels of inflation in certain Latin American countries and as a strong dollar reduced the value of sales outside the United States.

Net income attributable to the company's shareholders fell to US$550 million, or 13 cents per share, in the fourth quarter ended Dec 31, from US$1.24 billion, or 28 cents per share, a year earlier.

The fourth quarter included a US$919 million charge related to the refranchising of some of the company's bottling operations in North America.

Net operating revenue fell to US$9.41 billion from US$10 billion.

REUTERS

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