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UPDATE 1-Coca-Cola quarterly revenue misses on strong dollar

Published 2015-10-21, 07:56 a/m
© Reuters. UPDATE 1-Coca-Cola quarterly revenue misses on strong dollar
MNST
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(Adds details, shares)
Oct 21 (Reuters) - Coca-Cola Co KO.N reported
lower-than-expected quarterly revenue as a strong dollar reduced
the value of sales in markets outside North America.
The company's sales in Asia-Pacific fell 11 percent in the
third quarter, while sales in Latin America declined 14 percent.
Sales in Europe fell 7 percent. The three markets account for a
third of Coca-Cola's total revenue.
The dollar has risen about 12 percent against a basket of
major currencies in the past year.
Coca-Cola's shares fell slightly to $42.10 in premarket
trading on Wednesday.
Sales in North America, the company's biggest market, rose 1
percent, helped by higher pricing and its expanded distribution
agreement with energy drink maker Monster Beverage Corp
MNST.O .
The net income attributable to shareholders fell to $1.45
billion, or 33 cents per share, in the quarter ended Oct. 2 from
$2.11 billion, or 48 cents per share, a year earlier.
urn:newsml:reuters.com:*:nBwlzTSRa
Excluding items, Coca-Cola earned 51 cents per share.
Net operating revenue fell nearly 5 percent to $11.43
billion.
Analysts on average had expected a profit of 50 cents per
share and revenue of $11.54 billion, according to Thomson
Reuters I/B/E/S.

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