COCA-COLA Co has reported a quarterly profit that slightly beat Wall Street estimates, as sales have increased worldwide.
The world’s largest soft-drink maker, whose brands range from Sprite to Powerade, said net income was $2.22 billion (€1.62 billion), or 95 cents a share in the third quarter, up from $2.06 billion, or 88 cents a share, a year earlier.
Excluding exceptional items, earnings were $1.03 a share. On that basis, analysts on average were expecting earnings of $1.02 a share.
Revenue jumped 45 per cent to $12.25 billion, boosted by last year’s acquisition of its North American bottling operations, price increases and a 5 percentage-point currency benefit. Analysts expected revenue of $12.01 billion.
Worldwide volume rose 5 per cent. Volume in North America also rose 5 per cent, helped by the addition of new cross-licensed brands such as Dr Pepper.
Excluding those brands, North American volume rose 1 per cent.
Volume increased 7 per cent in Latin America, 2 per cent in Europe, 7 per cent in the Eurasia and Africa segment and 6 per cent in the Pacific region. – (Reuters)
