Coke is trying to slim down its business, not just its sodas.
The Atlanta-based company said its profit fell 55 percent as global sales volume dipped and it booked charges related to getting out of the manufacturing and distribution of its drinks.
Coca-Cola Co. has been selling those operations back to independent bottlers around the country and plans to complete the process by the end of this year. That frees up the company to focus on the more profitable work of burnishing its brand, while selling concentrates to bottlers.
"Basically, you're becoming a branding company and selling a little syrup on the side," said Ali Dibadj, a Bernstein analyst.