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2/14/2019, 12:56 PM (Source: TeleTrader)
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Coca-Cola posts Q4 revenue of $7.06B, down 6% YoY

The Coca-Cola Company announced on Thursday its revenue for the fourth quarter of 2018 amounted to $7.06 billion, marking a decrease of 6% on an annual basis. The company's earnings per share (EPS) reached a figure of $0.18, significantly growing from the last year's reported loss per share of $0.66. Coca-Cola's operating income increased by 21% in the final 2018 quarter, while the operating margin, including items influencing comparability, expanded 516 to 585 basis points.

The consumer goods giant's annual revenue decreased by 10% for the full fiscal 2018 compared to 2017, to reach $31.9 billion. Coca-Cola said its quarterly and annual results were hit by 13% and 7% headwinds, driven by negative currency changes and refranchising of bottling operations.

"I am pleased with our strong organic revenue and earnings growth in 2018. Our results demonstrate progress in our transformation as a consumer-centric, total beverage company and the power of a more strategically aligned system... Coca-Cola has established a strong foundation to capitalize on long-term growth opportunities and drive sustained shareowner value," chief executive officer James Quincey commented.

Following the earnings release, Coca-Cola shares fell 2.25% during premarket trading.

Breaking the News / SS