Due To New Pandemic Restrictions, Coca Cola Revenue falls By 5%

Coca-Cola Co reported a 5% fall in quarterly revenue on Wednesday, as new pandemic curbs closed the doors of the soda maker’s biggest sales drivers, such as restaurants, cinemas and sporting events, in most parts of the world. The company said, organic sales, which strip out acquisition and currency impacts, fell 3% in the fourth quarter. Unit case volume, a key demand indicator, fell 3%, compared with a 4% fall in the preceding quarter. Net revenue fell to $8.61 billion in the three months ended Dec. 31, from $9.07 billion a year earlier.