Coca-Cola offered investors some good news and some bad news on Tuesday: The Atlanta soda giant's profit dropped 17 percent in 2014, the Atlanta Business Chronicle reported; but that figure still beat expectations thanks to improved sales numbers in North America, the company's biggest market, Reuters added.

The beverage maker's annual revenue dropped 2 percent to $46 billion, while its profit fell 17 percent to $7.1 billion, or $1.60 a share. At the same time, unit case volume rose by 2 percent last year with still beverages up 4 percent and sparkling beverages up 1 percent.

Coke expects 2015 to be a "transition year," though the company warned that foreign currency exchange rates may have an unfavorable impact on its results. Full-year comparable currency neutral earnings per share growth should be in the mid-single digits, the beverage maker anticipated.

"We are making solid progress on the implementation of the strategic initiatives we announced in October as evidenced by some early positive signs in the quarter," Coca-Cola Chairman and Chief Executive Muhtar Kent said in a statement.

"We remain resolutely focused on accelerating growth and taking advantage of opportunities to solidify our position in key markets and categories," Kent added. "However, we continue to see 2015 as a transition year as the benefits from the announced initiatives will take time to materialize amidst an uncertain and volatile macroeconomic environment."

The company's chief financial officer, Kathy Waller, meanwhile, pointed to what she views as Coca-Cola's "strong finish" to its holiday season, Bloomberg Business noted. But the soda maker is still facing challenges due to economic challenges outside the United States, she admitted.

''European markets have a difficult environment that they're operating in," Waller said. "Emerging markets are seeing the same kind of issues with the macroeconomic environment."

In the North American market, meanwhile, Coke's sales have declined or remained flat for the last three quarters because of customer concerns. Consumers increasingly choose less caloric beverages and also shift away from diet sodas because of concerns over artificial sweeteners.