The biggest world creator of non-alcoholic drink reported quarterly results for the last quarter of 2020. Revenues disappointed decreasing by 5% to 8,6 billion dollars. On the other side profit raised thanks to the tax cuts. Net income decreased from $2.04 billion to $1.46 billion a year earlier.

The outlook of the company is single-digit organic growth in the future after a horrible year connected with stopped supply chains because of coronavirus. Outlook of the company is reaching of pre-pandemic levels in 2021.

CEO of Coca-Cola James Quincey said in a statement: "The progress we made in 2020, including the actions taken to accelerate the transformation of our company, gives us confidence in returning to growth in the year ahead." 

Coca-Cola also announced stopped production of Tab and Odwalla drinks, which have not sold well, and plans to lay off about 2,200 employees worldwide.

Last year was hard for the Coca-Cola according to which the company lost 6 per cent last year. The market value of the company is currently around $213 billion.

Performance of Coca-Cola (Tradingview.com)