Coca-Cola earnings rise on higher volumes
Coca-Cola announced a jump in fourth-quarter profits Tuesday on higher volumes and prices and said it would fully refranchise bottling operations in North America and China in a cost-cutting move.
Net income for the 2015 fourth quarter was $1.2 billion, up 60.6 percent compared with the year-ago period.
Revenues fell 8 percent to $10 billion.
Coca-Cola's global volume grew three percent in the quarter, driven especially by gains in still products such as bottled water, juice and sports drinks. Volumes for still products jumped six percent globally, as well as in the key North American market.
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