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(Reuters) – Coca-Cola Co reported better-than-expected quarterly revenue, helped by higher sales of its sodas in North America, its biggest market.
Volume sales rose 1 percent in North America, including a 1 percent growth in sales of its carbonated soda drinks such as Sprite and Fanta.
However, global volume sales for the company fell 1 percent in the fourth quarter ended Dec. 31, hurt by high levels of inflation in certain Latin American countries.
Net income attributable to the company’s shareholders more than halved to $ 550 million, or 13 cents per share, in the fourth quarter, from $ 1.24 billion, or 28 cents per share, a year earlier.
The fourth quarter included a $ 919 million charge related to the refranchising of some of the company’s bottling operations in North America.
Excluding items, the company earned 37 cents per share, in line with the average analysts’ estimate, according to Thomson Reuters I/B/E/S.
Net operating revenue fell about 6 percent to $ 9.41 billion, the seventh straight drop, but beat estimates of $ 9.13 billion. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)
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