Coca-Cola Q3 profit tops street view

Coca-Cola Q3 profit tops street view

New York: Coca-Cola Co reported a higher-than-expected quarterly profit on Tuesday, helped by volume gains in its North American and international units, sending shares up 1.3% in premarket trade.

The world’s largest soft drink maker’s third-quarter net income was $2.06 billion, or 88 cents per share, up from $1.90 billion, or 81 cents per share, a year earlier.

Excluding items, Coca-Cola earned 92 cents per share, topping analysts’ average estimate of 89 cents, according to Thomson Reuters I/B/E/S.

Revenue rose 5% to $8.43 billion as worldwide volume rose 5%.

Volume in North America rose 2% in the third quarter. That follows a 2% increase in the second quarter, which was its first increase in over two years.

Coke shares rose to $60.75 in premarket trade, up from Monday’s close at $60 on the New York Stock Exchange, a new 52-week high.