Coca-Cola boosts savings target; sees smaller profit drop

Coca-Cola also reported a smaller-than-expected quarterly profit, mainly due to higher costs related to refranchising its North America bottling operations. REUTERS/Benoit TessierCoca-Cola Co (KO.N) on Tuesday expanded its savings target and said it now expected the decline in 2017 adjusted profit to be smaller than it previously forecast. Coca-Cola said it was increasing its cost-cutting target by $800 million in annualized savings and now expects to save $3.8 billion by 2019. Analysts on average had expected earnings of 44 cents per share and revenue of $8.87 billion, according to Thomson Reuters I/B/E/S. REUTERS/Samrang Pring/File PhotoBottles of Coca-Cola are pictured in a cooler during a news conference in Paris, France, April 20, 2017.


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Coca-Cola boosts savings target; sees smaller profit drop

Coca-Cola also reported a smaller-than-expected quarterly profit, mainly due to higher costs related to refranchising its North America bottling operations. REUTERS/Benoit TessierBy Sruthi Ramakrishnan(Reuters) - Coca-Cola Co (KO.N) on Tuesday expanded its savings target and said it now expected the decline in 2017 adjusted profit to be smaller than it previously forecast. Coca-Cola said it was increasing its cost-cutting target by $800 million in annualized savings and now expects to save $3.8 billion by 2019. Analysts on average had expected earnings of 44 cents per share and revenue of $8.87 billion, according to Thomson Reuters I/B/E/S. Coca-Cola said on Tuesday it expects full-year adjusted profit to decline 1-3 percent, compared with the 1-4 percent decline it forecast in February.




Coca-Cola also reported a smaller-than-expected quarterly profit, mainly due to higher costs related to refranchising its North America bottling operations. By Sruthi Ramakrishnan(Reuters) - Coca-Cola Co on Tuesday expanded its savings target and said it now expected the decline in 2017 adjusted profit to be smaller than it previously forecast. Coca-Cola said it was increasing its cost-cutting target by $800 million in annualized savings and now expects to save $3.8 billion by 2019. Analysts on average had expected earnings of 44 cents per share and revenue of $8.87 billion, according to Thomson Reuters I/B/E/S. Coca-Cola said on Tuesday it expects full-year adjusted profit to decline 1-3 percent, compared with the 1-4 percent decline it forecast in February.


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