Coca-Cola's Profit Rises As Volume Grows Overseas
NEW YORK (AP) — Coca-Cola says its profit rose 13 percent in the fourth quarter as the world's biggest beverage company sold more of its drinks overseas.
The U.S.-based company said global sales volume rose 3 percent, driven by international growth. In the flagship North American market, volume rose just 1 percent. Soda volume declined 2 percent.
The results come as Coca-Cola relies on a shifting mix of drinks for growth in North America amid intensifying criticism of sugary sodas. Give the saturated U.S. and European markets, Coca-Cola is increasingly looking for growth in countries where the ranks of middle-class customers are growing quickly.
In the latest quarter, for example, the company said sales volume rose 12 percent in Russia and 13 percent in Turkey.
Volume in Europe declined 5 percent, which the company blamed on the uncertain economic climate.
For the October-to-December period, The Coca-Cola Co. earned $1.87 billion, or 41 cents per share. That's compared with $1.66 billion, or 36 cents per share, in the year-ago period. Not including one-time items, the company said it earned 45 cents per share.
Revenue rose 4 percent to $11.46 billion.
Analysts on average expected an adjusted profit of 44 cents per share on revenue of $11.53 billion.