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

February 7, 2012 7:56 AM EST Send to a Friend
Get Alerts KO Hot Sheet
Trade KO Now!
Join SI Premium – FREE
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.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Earnings

Related Entities

Earnings

Add Your Comment