Coca-Cola reports seventh straight drop in quarterly revenue
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue