Mark Elwa
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Coca Cola profit and revenue fall

Coca-Cola Co. on Tuesday said revenue and profit declined in its latest quarter as soda volume was flat amid weakness abroad.

Overall, Coke posted a profit of $1.48 billion, or 34 cents a share, down from $1.56 billion, or 35 cents a share, a year earlier.

Excluding certain items, per-share earnings were 45 cents, edging in above the 44 cents analysts polled by Thomson Reuters had forecast.

The company said foreign exchange shaved 12 percentage points off its per-share earnings in the quarter.

Revenue fell 4% to $10.28 billion. Analysts polled by Thomson Reuters had forecast revenue of $10.27 billion. The top line was hurt by one less day compared with the prior-year period.

Bounce ended?