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Coca-Cola Q3 profit beats Street by a penny

Coca-Cola Q3 profit beats Street by a penny
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First Published: Tue, Oct 18 2011. 05 51 PM IST

Tim Boyle/Bloomberg
Tim Boyle/Bloomberg
Updated: Tue, Oct 18 2011. 05 51 PM IST
New York: Coca-Cola Co reported a quarterly profit on Tuesday that slightly beat Wall Street estimates, as sales increased worldwide.
The world’s largest soft-drink maker, whose brands range from Sprite to Minute Maid and Powerade, said net income was $2.22 billion, or 95 cents per share in the third quarter, up from $2.06 billion, or 88 cents per share, a year earlier.
Tim Boyle/Bloomberg
Excluding items, earnings were $1.03 per share. On that basis, analysts on average were expecting $1.02 per share, according to Thomson Reuters.
Revenue jumped 45 percent 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%. Volume in North America also rose 5%, helped by the addition of new cross-licensed brands such as Dr Pepper. Excluding those brands, North American volume rose 1 percent.
Volume increased 7% in Latin America, 2% in Europe, 7% in the Eurasia and Africa segment and 6% in the Pacific region.
Coca-Cola shares fell 20 cents to $66.80 in premarket trading.
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First Published: Tue, Oct 18 2011. 05 51 PM IST
More Topics: Company Results | Coco Cola | Coke | Beverage | FMCG |