Boston, MA 02/19/2014 (wallstreetpr) – Coca Cola Company (NYSE:KO) posted its fourth quarter and full year result for the period ending December 31, 2013 that slightly fell below consensus expectations. Earnings per share for the quarter came in at $0.38 a share slightly lower compared to analysts expectations with a full year EPS of $1.90 that was down by 3% compared to F2012.
Coca Cola saw its global volume increase by 1% in the fourth quarter due to growth in Eurasia and Africa, American sales on the other hand fell by 1% with sales in China and India helping to compensate the slump in North America.
Coca Cola fourth quarter outlook
The fourth quarter saw Coca Cola Company (NYSE:KO) registering total revenues amounting $11.04 billion that was a decline of 4% compared to 2012 fiscal year revenues of $11.455 billion. This was due to a loss of revenue in operations in Brazil and Philippines. The revenues also fell below estimates which were placed at the $11.31 billion mark.
Coca Cola Company (NYSE:KO)’s net income also fell to lows of $1.71 billion during the quarter compared to a net income of $1.86 billion registered in the same quarter a year ago. The company currently projects unfavorable currency rates to have a negative impact of 10% during the first quarter of business. Operating income for the fourth quarter was heavily hurt by unfavorable foreign exchange rates that saw it slip by 4%.
Coca Cola Company (NYSE:KO) stock fell down in the morning trading session by 4% immediately after the company posted the results, this was as a result of the company not meeting the consensus estimates. The full year saw the company net operating revenue totaling $46.9 billion that was a dip compared to F2012 revenues of $48 billion, its net income was also down by 5% to come in at $8.6 billion.
Coca Cola Company (NYSE:KO) closed Tuesday trading session on a low, slipping by 3.75% to close the day at $37.47 a share.
