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Official: Coca Cola Worldwide Profits Drop 8% To $1.6billion

Nairametrics by Nairametrics
April 15, 2014
in Uncategorized
Official: Coca Cola Worldwide Profits Drop 8% To $1.6billion
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(Reuters) – Coca-Cola Co reported an 8 percent fall in quarterly net earnings after a decline in volumes in Europe and the sale of its bottling operations in Brazil.

The company’s net income attributable to shareholders fell to $1.62 billion, or 36 cents per share, in the first quarter ended March 28 from $1.75 billion, or 39 cents per share, a year earlier. Excluding items, earnings were 44 cents per share.

Revenue fell 4 percent to $10.58 billion. The company said that while global sales volumes rose 2 percent in the quarter, volumes fell 4 percent in Europe.

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