Coca Cola : 3Q Revenue Falls, Hurt By Away-From-Home Channels

By Allison Prang

Coca-Cola Co.'s revenue declined in the third quarter as the company continued to see pressure in its away-from-home channels.

The beverage company said profit was $1.74 billion, or 40 cents a share. A year earlier, net income was $2.59 billion, or 60 cents a share. The company logged adjusted earnings of 55 cents a share.

Net operating revenues of $8.65 billion fell 9% year over year. They were more than analysts' consensus according to FactSet of $8.36 billion. Organic revenue also declined.

The company said the drop in revenue was "driven by ongoing pressure in away-from-home channels partially offset by sustained growth in at-home channels" as coronavirus-pandemic lockdowns and restrictions continue to affect some markets.

Write to Allison Prang at [e-mail]

(END) Dow Jones Newswires

10-22-20 0732ET