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    Coca-Cola 4Q profit drops on charges

    Associated Press – Tue, Feb 7, 2012

    ATLANTA (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 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 U.S.-based company.

    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.

     

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    • Reyel Galario
      Reyel Galario  •  3 mths ago
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