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Coca-Cola Plans $1 Billion in Cost Cuts as Profit Falls

Coca-Cola Co., the world’s largest beverage company, dropped the most in more than two years after North American soft-drink demand shrank and its once-effervescent growth in emerging markets showed signs of slowing.

Fourth-quarter net income slid 8.4 percent to $1.71 billion, or 38 cents a share, from $1.87 billion, or 41 cents, a year earlier, Atlanta-based Coca-Cola said today in a statement. Sales fell 3.6 percent to $11 billion in the period, missing the average analyst estimate compiled by Bloomberg.