Atlanta: The world’s largest soft drink maker Coca-Cola Co. said its third quarter profit rose more than analysts had estimated because of higher sales outside the US.

Net income increased 14% to $1.89 billion (Rs9,147.6 crore) from $1.65 billion a year earlier, the Atlanta-based firm said on Wednesday.

Blunting impact: The Atlanta firm offset slowing sales in the US by promoting more in emerging economies, lowering production costs. Chris Rank / Bloomberg

Sales in North America dropped 2%, the company said. However, the Indian arm of the company showed double-digit growth in volumes. “Emerging markets continued to drive the results, with China, Turkey, India, southern Eurasia, Pakistan, Nigeria and Korea delivering double-digit unit case volume growth," it said.

One unit case contains 24 bottles of 8 oz (0.24 litre) each.

Chief executive officer Muhtar Kent promoted Sprite and Minute Maid in emerging economies and lowered production costs, blunting slowing sales in established US and European markets where consumers face a possible recession.

Coca-Cola reported its results a day after PepsiCo Inc. said profit fell 9.6%.

“There may be economic disruption in the near term, but Coca-Cola always tends to come up on the other side of it in fairly decent shape," Greggory Warren, an analyst with Morningstar Investment Services Inc., had said in a 13 October interview.

Coca-Cola rose $2.07, or 4.7%, to $45.80 at 7.19am in trading before the New York Stock Exchange opened. The stock declined 29% this year before Wednesday, while PepsiCo dropped 28%. Bloomberg n

(Mint’s Vijaya Rathore in New Delhi contributed to this story.)

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