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(Reuters) – Coca-Cola Co’s quarterly revenue fell nearly 5 percent as a strong dollar reduced the value of sales in markets outside North America.
The net income attributable to shareholders fell to $1.45 billion, or 33 cents per share, in the third quarter ended Oct. 2 from $2.11 billion, or 48 cents per share, a year earlier.
Adjusted earnings per share came in at $0.51, topping expectations for $0.50, according to estimates from Yahoo Finance.
Net operating revenue fell to $11.43 billion from $11.98 billion. Expectations was for revenue to total $11.54 billion.
“Despite a continued challenging macro environment, all of us at The Coca-Cola Company remain confident in our strategies and committed to the creation of long-term shareowner value,” CEO Muhtar Kent said in a statement.
The company said that in 2015 it expects negative currency effects to take 7% out of revenue and 11% out of its operating profit.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Kirti Pandey)