Coca-Cola 4Q profit drops
Cases of Coca-Cola are seen on a counter at a local store in August 2011 in West Bath, Maine, in this photo illustration. (Aug. 8, 2011) Credit: AP
Coca-Cola Co.'s fourth-quarter net income dropped 71 percent, weighed down by restructuring charges and other costs. But the beverage maker's adjusted results topped Wall Street's expectations.
Its stock added 62 cents to $68.65 in Tuesday premarket trading.
Coca-Cola, whose brands include Sprite and Minute Maid, earned $1.65 billion, or 72 cents per share, for the period ended Dec. 31. That's down sharply from $5.77 billion, or $2.46 per share, a year earlier.
Removing restructuring charges and other items, earnings were 79 cents per share. Analysts forecast 77 cents for the company, based in Atlanta.
Revenue increased 5 percent to $11.04 billion. It was helped by higher prices, strength overseas and solid results from the Coca-Cola brand, juices and teas.
Revenue just topped Wall Street's $11 billion estimate.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
