Coca-Cola’s quarterly profit fizzles, dropping 55%

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Fortune

Coca-Cola [fortune-stock symbol=”KO”] reported a 55% plunge in quarterly profit Tuesday as a stronger dollar hurt revenue from international markets.

The world’s largest beverage maker said net income attributable to shareholders fell to $770 million, or 17 cents per share, in the fourth quarter from $1.71 billion, or 38 cents per share, a year earlier.

Excluding items, the company earned 44 cents per share.

Net operating revenue fell 2% to $10.87 billion.

Coke said sales in North America, its biggest market, rose for the first time in four quarters, offsetting the impact of a stronger dollar on its overseas business.

Coke’s sales in North America have declined or remained flat for the last three quarters as U.S. consumers opt for healthier beverages and shift away from diet sodas due to concerns over artificial sweeteners.

North American sales rose 2% to $5.37 billion in the fourth quarter ended Dec. 31, accounting…

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