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.

Find out about the New York stock market and spread betting strategies at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.