Coca-Cola reports 4Q stats

ATLANTA (AP) — Coca-Cola Co.'s fourth-quarter net income dropped 71 percent, weighed down by restructuring charges and a difficult comparison with last year's fourth quarter, when the beverage maker had a hefty benefit from buying its bottlers.

But the Atlanta company said today its adjusted results topped Wall Street's expectations as it sold more drinks in the U.S. and abroad, particularly in emerging markets.

"Even as we believe that global market volatility will continue in the near term, the breadth of our global footprint and the strength of our brands create a resilient business that was built for times like these," said CEO Muhtar Kent in a statement.

Its stock added 71 cents to $68.74 in premarket trading.

Coke also said it will start a cost-cutting program in 2012 to save $550 million to $650 million annually by 2015 in part to help offset continued high commodity costs.