Coke shares plunge as beverage giant reports disappointing revenues

<p>Coca-Cola shares have lost ground on poor revenue news.</p>

Shares in Coca-Cola have plunged in New York today (February 12th), as the drinks giant has reported disappointing revenues for the fourth quarter of 2012.

The world's largest soft drink manufacturer – which also produces brands such as Sprite, Fanta and Minute Maid – said worldwide sales volumes climbed by three per cent, but volume in Europe plunged by five per cent.

Fourth-quarter volumes slumped in Germany by five per cent, more than analysts initially anticipated.

Furthermore, sales fell by four per cent in China, which was also weaker than some expected.

Coca-Cola said it earned $1.87 billion (£1.20 billion) – or 41 cents per share – in the final four-month period of 2012, compared with a profit of $1.66 billion – or 36 cents a share – a year earlier.

At 16:45 GMT, Coca-Cola shares plunged by two per cent on the New York Stock Exchange to $37.82 per share.

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