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By
DEE-ANN DURBIN
Coca-Cola saw stronger U.S. demand in the fourth quarter despite
higher prices.
Global unit case volumes grew 1% for the October-December
period, led by the U.S., Japan and Brazil, the Atlanta beverage
giant said Tuesday. Unit case volumes also rose by 1% in North
America, reversing several quarters of flat or declining sales.
Coke said it hiked prices 4% in North America and 1% globally
during the quarter. Revenue rose 2% to $11.8 billion.
Still, that fell short of Wall Street’s expectations. Analysts
polled by FactSet expected quarterly revenue of $12.05 billion.
Net income rose 3% to $2.3 billion. Adjusted for one-time items,
the company earned 58 cents per share, or 2 cents better then
Wall Street had expected.
Shares fell almost 4% before the opening bell.
Coca-Cola announced in December that Henrique Braun, the
company’s current chief operating officer and a 30-year veteran
of the company, will become its CEO on March 31. Coke’s current
Chairman and CEO, James Quincey, will become executive chairman.
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