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Shares of the
maker of Sprite soda and Minute Maid juices fell about 1 percent
to $46 in premarket trading on Wednesday.
Coke and rival PepsiCo Inc <PEP.N> have been hurt as consumers
increasingly turn health-conscious, cutting back on fizzy drinks
and turning to teas, fruit juices and smoothies.
The rise in the dollar has also hit the companies, which have a
sizeable presence in markets outside the United States,
including China, Europe and Brazil.
The average value of the dollar rose 2.6 percent in the first
quarter from a year earlier. The U.S. currency had risen 18
percent gain in the first three months of 2015.
Coke's sales in Europe declined 1 percent to $1.20 billion in
the quarter ended April 1, accounting for nearly 12 percent of
total revenue.
The net income attributable to Coke's shareholders fell 4.5
percent to $1.48 billion, or 34 cents per share.
Excluding items, Coke earned 45 cents per share, beating the
average analyst estimate of 44 cents, according to Thomson
Reuters I/B/E/S.
Net operating revenue fell 4 percent to $10.28 billion.
Excluding the impact of acquisitions, divestitures and currency
movements, total revenue rose 2 percent.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Kirti Pandey)
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