Summary Box: Coke adjusted 4Q results beat Street

AP News
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Posted: Feb 07, 2012 11:30 AM
Summary Box: Coke adjusted 4Q results beat Street

THE NEWS: Coca-Cola Co.'s fourth-quarter net income fell 71 percent in the fourth quarter, mainly due to a benefit it received last year buying North American operations of one of its bottlers.

THE CONTEXT: Excluding one-time items, Coca-Cola's earnings beat expectations. Volume rose globally as the company expanded in emerging markets. It also raised prices in North America. Revenue rose 5 percent to $11.04 billion.

WHAT'S NEXT: The company outlined a cost-cutting program designed to save $550 million to $650 million annually by the end of 2015.