NEW YORK (Feb. 12) -The Coca-Cola Co. said Thursday its fourth-quarter profit fell 18 percent as it dealt with the global recession and volatility in the currency markets.
Skip over this content
Coca-Cola Profit Falls 18 Percent
AP
Markets
U.S. open in 4 hrs, 35 mins
BUSINESS NEWS
- Market News
- Earnings
- Recalls
- Recession Watch
- Tech News
- Financial Crisis
- Madoff Scandal
- DailyFinance
- BloggingStocks
- Luxist
- Money Videos
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Currencies
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
PERSONAL FINANCE AT WALLETPOP
- Bargains
- Banking
- Budget
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Food
- Home
- Fraud
- Insurance
- Interest Rates
- Loans
- Mortgages
- Real Estate
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
SMALL BUSINESS
But its adjusted earnings figure still beat Wall Street estimates and the world's biggest soft drink maker said its case volume grew.
"Our performance in the fourth quarter was very solid," Chief Executive Muhtar Kent said in a statement.
Shares rose $1.23, or 3 percent, to $42.50 in pre-market trading.
The company earned $995 million, or 43 cents per share, in the quarter ended Dec. 31, down from $1.21 billion, or 52 cents per share, a year earlier.
Skip over this content
Revenue fell 3 percent to $7.13 billion from $7.33 billion a year ago. Many global consumer products makers struggled during the quarter as the stronger dollar shrunk profits from products sold in other currencies. Coke said its operating income was dragged down 9 percent by currency comparisons.
Excluding one-time items such as a charge related to its Coca-Cola Enterprises business, Atlanta-based Coke says it earned 64 cents a share. It also had restructuring costs and asset write-downs that hurt the reported results.
Thomson Reuters says analysts expected profit of 61 cents per share on revenue of $7.52 billion.
Unit case volume grew 4 percent during the quarter, with the volume of its trademark Coke rising 2 percent. Last month the company launched a new "Open Happiness" global marketing campaign to renew its focus on soft drinks to appeal to consumers looking to pay less.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2009-02-12 08:53:00
Recent Comments
AlbertJMiranda56 03:16:49 AM Feb 15 2009
Its funny that you guys never complain about the price of beer or illegal drugs.
Heaven for u 2 09:23:41 PM Feb 12 2009
Rashard411 11:11:38 AM Feb 12 2009 LET'S MAKE A RUN ON THE BANKS... THAT WILL SCARE THEM A LITTLE....SPEAD THE RUN ON BANKS IDEA AROUND THE FDIC DOESN'T HAVE ENOUGH MONEY AND IF WE DID THAT THEN THE CAP HILL FOOLS WOULD WRITE A REAL BILL THAT REALLY HELPS... THAT WOULD BE ONE HELL OF A IDEA AND I THINK IT WILL WORK TELL EVERYONE YOU KNOWÃÂâÃÂÃÂÃÂæ THIS IS A REAL POWER MOVE SINCE THEY WON'T LISTEN TO THE PEOPLE LETS BREAK THEIR ASSES.... I EMAILED ALL MY BUDDIES FAMILY AND FRIENDS... I WE SHOULD ALL SEND THIS MESSAGE TO EVERYONE YOU KNOW WITH MONEY IN A BANK... LET THE RUN ON THE BANKS BEING... COME ON PEOPLE THIS WILL WORK!!! THIS RUN MUST BE AT THE BIG BANKS NATION WIDE AND REGIONAL BANKS...------------------------------------------------------------------------------Very dumb idea. This has to be done enmass with thousands of customers, if not more. Why do you want the banks to fail? Did you recently have check bounce?
Heaven for u 2 09:20:39 PM Feb 12 2009
David50now 12:53:19 PM Feb 12 2009 If coke contiues to raise their price... ( had to pay4.50$ for a 12 pack! ) i will stop buying altogether and im sure millions more will also! so go ahead coke raise your price i wont buy and you can go to some third world country and and try a new market! we the americans built you now lets give back to the ones who support your products or you can go to he## ! and as for your rewards program why dont you give us the chance for more coupons that can actually put money back in our pockets such as the subway rewards or home depot rewards.--------------------------------------------------------------------------------So you had to pay less than 0.45 cents per can. From the machine it's $1.00, so purchasing Coke in the way you did, saved you $$$$
RohrbG 03:32:40 PM Feb 12 2009
Coke over priced, How much more will the consumer take from the greed of these companies..Sad day in America.
David50now 12:53:19 PM Feb 12 2009
if coke contiues to raise their price... ( had to pay4.50$ for a 12 pack! ) i will stop buying altogether and im sure millions more will also! so go ahead coke raise your price i wont buy and you can go to some third world country and and try a new market! we the americans built you now lets give back to the ones who support your products or you can go to he## ! and as for your rewards program why dont you give us the chance for more coupons that can actually put money back in our pockets such as the subway rewards or home depot rewards.
PDELCHIARO 12:49:24 PM Feb 12 2009
Lot of people changed to bottled water, Coca Cola was great in it's time before all the other products hit the market, like Gator Aide etc., people are more into health and avoid sugar, that is my view, your see more adults in 24 hour Fitness etc., it is Generational, in my day you can get Coca Cola for 5 cents a bottle, people should take the time and look at the economics, we have been going down for years because of Greed in Real Estate and people in general, everyone wanted to be someone, so this is the result, I believe you spend money to make money, this bailout is a SPENDING BILL, just think what would happend if the Government done nothing?, some people will be ok, but many people will go on Welfare, now that be a depression, wait and see what you state does about it's debt, bet they will get rid of jobs and raise taxes............................................
StrohGDS 12:27:48 PM Feb 12 2009
Profits are down, because myself and others pass on it, due to it never being on sale! Pepsi seems is on sale every week, verse Coca Cola every few weeks! I love coke, but pass on paying regular price.
Rashard411 11:11:38 AM Feb 12 2009
LET'S MAKE A RUN ON THE BANKS... THAT WILL SCARE THEM A LITTLE....SPEAD THE RUN ON BANKS IDEA AROUND THE FDIC DOESN'T HAVE ENOUGH MONEY AND IF WE DID THAT THEN THE CAP HILL FOOLS WOULD WRITE A REAL BILL THAT REALLY HELPS... THAT WOULD BE ONE HELL OF A IDEA AND I THINK IT WILL WORK TELL EVERYONE YOU KNOWâÃÂæ THIS IS A REAL POWER MOVE SINCE THEY WON'T LISTEN TO THE PEOPLE LETS BREAK THEIR ASSES.... I EMAILED ALL MY BUDDIES FAMILY AND FRIENDS... I WE SHOULD ALL SEND THIS MESSAGE TO EVERYONE YOU KNOW WITH MONEY IN A BANK... LET THE RUN ON THE BANKS BEING... COME ON PEOPLE THIS WILL WORK!!! THIS RUN MUST BE AT THE BIG BANKS NATION WIDE AND REGIONAL BANKS...
Latest Money News
| Type | Current | APR |
|---|---|---|
| 30 Yr Fixed Mtg | 5.16% | 5.39% |
| 5/1 ARM | 4.32% | 4.24% |
| $30K HELOC | 5.82% | 0.00% |
| 36 Month New Car Loan | 7.20% | 0.00% |
| 1 Yr CD | 1.59% | 1.60% |
- Google's plan for netbook PCs moves higher...
- TJX: Back up the truck
- Dell being left behind as PC market...
- Heinz earnings preview: Lower Q2 profit...
- Is dollar destined to dive in 2010?
- Closing Bell: Stock bulls and dollar death...
- Entergy: Pull-back is buy opportunity
- So long peak oil, here comes peak uranium
- Medtronic earnings preview: Strong Q2...