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Coca-Cola profit misses consensus by 20.8% in fiscal Q3

Coca Cola Co. said its normalized net income for the fiscal third quarter ended Oct. 2 came to 40 cents per share, compared with the S&P Capital IQ consensus estimate of 50 cents per share.

EPS fell 6.5% year over year from 42 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.74 billion, a decrease of 7.5% from $1.88 billion in the third quarter ended Sept. 26, 2014.

The normalized profit margin dropped to 15.4% from 15.7% in the year-earlier period.

Total revenue fell on an annual basis to $11.43 billion from $11.98 billion, and total operating expenses fell year over year to $8.79 billion from $9.14 billion.

Reported net income fell 32.0% from the prior-year period to $1.45 billion, or 33 cents per share, from $2.13 billion, or 48 cents per share.