August 5, 2015 / 8:10 PM / 5 years ago

Keurig quarterly profit falls 27 pct

Aug 5 (Reuters) - Keurig Green Mountain Inc, the maker of K-Cup single-serve coffee pods, reported a 27 percent fall in quarterly profit as it grapples with slower-than-expected adoption of its new brewers.

Net income attributable to Keurig fell to $113.6 million, or 73 cents a share, in the third quarter ended June 27 from $155.2 million, or 94 cents a share, a year earlier.

Revenue fell 5.2 percent to $969.5 million.

The company also authorized the additional repurchase of up to $1 billion in shares over the next two years. (Reporting by Subrat Patnaik in Bengaluru and Anjali Athavaley in New York; Editing by Savio D’Souza)

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