ATLANTA - Coca-Cola Co.'s fourth-quarter net income more than tripled, helped by the acquisition of a bottler and selling more drinks in North America.
The world's largest soft drink maker had relied more on emerging markets like China and India when growth in developed markets waned on weakened consumer spending and increased interest in healthier drinks like juices and teas.
Coca-Cola earned $5.77 billion, or $2.46 per share, for the period ended Dec. 31. That's up from $1.54 billion, or 66 cents per share, a year ago.
Removing a $5 billion gain tied to the buyout of Coca-Cola Enterprises' North American operations and other items, earnings were 72 cents per share. That met analysts' expectations.
The Atlanta company's revenue rose 40 percent to $10.49 billion, besting Wall Street's $10.16 billion.
Sunday
October 13th, 2024
10:25AM
