Coca-Cola Co. (NYSE: KO) reported a 22 percent profit drop for the fourth quarter Wednesday, hurt by a charge from its largest bottler.
The company's net income was $678 million, or 29 cents per share, down from $864 million, or 36 cents per share in the same quarter a year ago.
Excluding one time charges - including a large charge for its stake in Coca-Cola enterprises - the company's earnings were 52 cents per share. That was 2 cents better than analysts polled by Thompson Financial.
The company's operating revenue was up 6.9 percent to $5.93 billion. Meanwhile, total unit case volume was up 4 percent.
Shares of Coca-Cola Co. dropped 0.46 percen, or 22 cents, to $47.99 in afternoon trading on the New York Stock Exchange.
Case volume in North America dropped 2 percent, led by soda and water sales for discounted brands such as Dannon. Sales of Dasani water and Powerade energy drinks rose, however.
International volume rose 6 percent, with strong growth of 7 percent in Latin America.
Sales in the North Asia unit, which includes China, Japan, and Russia rose 11 percent. Europe Sales rose 7 percent.