Coca-Cola (KO) Beats Q4 Views on Strong Pacific, Eurasia Sales

February 7, 2012 7:56 AM EST
Coca-Cola (NYSE: KO) shares are higher Tuesday morning following strong fourth-quarter earnings and revenue.

Sales for Coca-Cola rose 5.2 percent from $10.50 billion during the fourth quarter of last year to $11.04 billion.

Net income fell 71 percent to $1.654 billion, or 72 cents per share. Excluding certain items, earnings moved to 79 cents per share.

Analysts on the Street had been anticipating quarterly revenue of $10.99 billion and EPS of 77 cents.

Global volumes increased 3 percent during the period.

Eurasia & Africa, as well as the Pacific region, led growth: volumes rose 4 percent and 5 percent in each, respectively. Europe and North America volume rose just 1 percent while Latin America saw a 4 percent jump.

Coca-Cola also noted its "Bottling Investments Group’s volume grew 3% in the quarter on an average daily sales basis, reflecting growth in Germany, India and China."

Coca-Cola announced it was starting "a new global productivity initiative and an expanded CCR integration effort under one joint “Productivity and Reinvestment” program representing a combined incremental $550 to $650 million in annualized savings by the end of 2015."

Shares of Coca-Cola are up 0.75 percent early Tuesday.

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