Outlook overshadows strong quarter at Coca-Cola

Coca-Cola posted solid quarterly profit and revenue numbers, but the strong dollar could slow sales in the coming year.

The headinwinds overshadowed a respectable fourth quarter, and shares slid almost 3 percent before the opening bell Thursday.

Coca-Cola Co. reported net income of $870 million, after a loss in the same period last year.

The company has been able to energize sales with new flavors and drinks as more people put off soft drinks.

Sales of tea and coffee rose 3 percent in the quarter, driven by new product launches in Japan and China, while sales of water and sports drinks rose 1 percent.

But sales of sparkling soft drinks fell 1 percent. Sales of juice and plant-based drinks dropped 2 percent, partly due to smaller package sizes in North America.

Per-share earns for the Atlanta company were 20 cents, or 43 cents when adjusted for one-time costs and gains.

That was in line with Wall Street’s forecast. Revenue of $7.06 billion was also in line with analysts’ projections, according to a survey by Zacks Investment Research. (AP)