Coca-Cola Stock Slips on Lower Sales

Coca-Cola shares slipped Wednesday after sales fell short of expectations and cut its 2016 outlook.
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Coca-Cola (KO) - Get Report shares slipped Wednesday after sales fell short of expectations and the company cut its 2016 outlook. The food and beverage giant reported earnings of $0.60 a share, slightly above Wall Street's estimates. But revenue of $11.54 billion missed analysts' predictions. The company also cut its outlook as global soda volume faces pressure from rougher economic conditions in emerging markets. Coca-Cola now expects full-year organic revenue to grow just three percent in 2016, that's down from its previous outlook of four percent to five percent growth.