FILE- This Nov. 14, 2018, file photo shows Coca-Cola Zero Sugar at a market in Pittsburgh. The Coca-Cola Co. reports financial results Thursday, Feb. 14, 2019. (AP Photo/Gene J. Puskar, File)

Outlook overshadows strong quarter at Coca-Cola

February 14, 2019 - 8:04 am

ATLANTA (AP) — Coca-Cola posted solid quarterly profit and revenue numbers, but the strong dollar slow growth 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.

For 2019, the company said currency will be a significant headwind. It forecast full-year earnings per share should be between negative 1 percent and positive 1 percent, compared with 2018. The company earned $2.08 per share for the full year in 2018, up 9 percent from the prior year.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KO at https://www.zacks.com/ap/KO

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