Coca-Cola reported quarterly revenue of US$11.82-billion on Tuesday.Abdul Saboor/Reuters
Coca-Cola KO-N missed Wall Street expectations for fourth-quarter revenue on Tuesday, as demand for its trademark coke sodas weakened in North America, sending its shares down about 2 per cent in premarket trading.
The company’s volume growth has lagged after multiple rounds of price increases, particularly in North America as popularity of GLP-1 weight-loss drugs push consumers away from high-sugar products.
Like peers, Coca-Cola is also facing currency headwinds and higher input costs.
The company reported quarterly revenue of US$11.82-billion, compared with estimates of US$12.03-billion, according to data compiled by LSEG.