Coca-Cola Q1 Earnings Down, Yet Match Street - Quick Facts

(RTTNews) - Beverages giant Coca-Cola Co. (KO) posted lower first-quarter 2014 net income attributable to shareowners of $1.62 billion, or $0.36 a share, versus the year-ago quarter's $1.75 billion, or $0.39 a share.

On a comparable basis, earnings per share were $0.44 in the recent quarter. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $0.44 for the quarter. Analysts' estimates typically exclude one-time items. The company said that the items impacting comparability lowered first-quarter 2014 reported per-share earnings by a net $0.08 and reduced first-quarter 2013 reported per-share earnings by a net $0.07. Comparable currency neutral earnings per share went up 5% during the quarter.

Quarterly net operating revenues totaled $10.58 billion, down 4%, compared with $11.04 billion last year, whereas 16 analysts estimated revenues of $10.55 billion.

The firm's global unit case volume grew 2%. Coca-Cola International volume was up 2% while North America's volume was even.

As part of the expansion of its productivity and reinvestment program announced in February, the compnay said it is on track to invest an incremental $400 million in 2014 media initiatives to accelerate top-line growth.