Coke Earnings Lose Fizz As Marketing Costs Rise BRIEFING: ATLANTA
Posted on: Wednesday, 8 February 2006, 12:00 CST
Coca-Cola said Tuesday that its fourth-quarter profit fell 28 percent on soaring marketing costs and expenses to repatriate overseas earnings. Coca-Cola increased spending 12 percent to $2.29 billion after introducing products and an advertising campaign
. The company also had $188 million in repatriation costs. Net income dropped to $864 million, or 36 cents a share. Excluding certain costs, the company earned 46 cents, exceeding analysts' estimates. Sales rose 6.7 percent to $5.6 billion as the company increased volume worldwide.Source: International Herald Tribune
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