Coca-Cola reports seventh straight drop in quarterly revenue

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(Copyright Reuters 2017)

Coca-Cola Co reported a 6 percent drop in quarterly revenue, the seventh straight drop, hurt by high levels of inflation in certain Latin American countries and as a strong dollar reduced the value of sales outside the United States.

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Net income attributable to the company's shareholders fell to $550 million, or 13 cents per share, in the fourth quarter ended Dec. 31, from $1.24 billion, or 28 cents per share, a year earlier.

The fourth quarter included a $919 million charge related to the refranchising of some of the company's bottling operations in North America.

Net operating revenue fell to $9.41 billion from $10 billion.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)