Coca-Cola’s fourth quarter profit has declined, as the world’s largest beverage maker once again sold less soda in the United States and Europe.
The company’s less-than-estimated net income fell 8.4% from a year ago to $1.7 billion.
Coca-Cola shares saw their biggest fall, making the stock the biggest drag on stock trading.
Although it’s tapping the markets for growth and selling a number of beverages, pressure is mounting for the company to figure out how to get soda sales moving in the right direction.
‘Uncertain global economy’
Coca-Cola has been battling declining soda sales in developed markets, as people reach for healthier options.
“While we move forward in what remains an uncertain global economy, the long-term fundamentals driving our business and industry have not changed,” Coca-Cola Chief Executive Muhtar Kent said in a statement.
“A rising middle class, greater urbanization and increasing personal consumption expenditures in markets around the world will continue to drive greater demand for our beverages,” he added.