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Coca-Cola profit misses consensus by 20.9% in fiscal Q1

Coca Cola Co. said its normalized net income for the fiscal first quarter ended April 3 came to 34 cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS fell 6.9% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.48 billion, a decline of 7.8% from $1.61 billion in the first quarter ended March 28, 2014.

The normalized profit margin declined to 13.5% from 15.2% in the year-earlier period.

Total revenue grew on an annual basis to $10.71 billion from $10.58 billion, and total operating expenses rose year over year to $8.18 billion from $8.07 billion.

Reported net income fell on an annual basis to $1.55 billion, or 35 cents per share, from $1.61 billion, or 36 cents per share.