February 16, 2018 / 12:13 PM / in 6 months

Coca-Cola sales sink 20 pct, records $3.6 bln tax charge

Feb 16 (Reuters) - Coca-Cola Co reported a 20 percent fall in quarterly revenue on Friday as it continues to sell off its bottling operations, and recorded a $3.6 billion charge related to the new U.S. tax laws.

The Fanta and Diet Coke maker reported a net loss of $2.75 billion, or 65 cents per share, in the fourth quarter ended Dec. 31, mainly due to the charge. A year earlier, the company had posted a profit of $550 million, or 13 cents per share. (bit.ly/2Eyyffi)

Net operating revenue fell to $7.51 billion from $9.41 billion a year earlier, mainly due to the refranchising of its bottling operations, but beat analysts’ estimate of $7.36 billion, according to Thomson Reuters I/B/E/S.

Reporting by Nivedita Balu and Sangameswaran S in Bengaluru; Editing by Saumyadeb Chakrabarty

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below