Coca-Cola's profit rises as it sells more drinks

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Associated Press

Posted on October 15, 2013 at 8:01 AM

Updated Tuesday, Oct 15 at 8:01 AM

NEW YORK (AP) — Coca-Cola says its profit rose in the third-quarter as the world's biggest beverage maker managed to sell more of its drinks despite choppy economic conditions.

The maker of Sprite, Powerade and Vitaminwater said global sales volume edged up 2 percent, fueled by its performance in emerging markets such as China, India and Russia.

Revenue declined because of structural changes and unfavorable currency exchange rates.

For the period, the company says it earned $2.45 billion, or 54 cents per share. A year ago, the company earned $2.31 billion, or 50 cents per share.

Not including one-time items, earnings per share were 53 cents. That matched expectations.

Revenue fell 3 percent to $12.03, which was short of the $12.05 billion analysts expected.

Shares of Coca-Cola Co. rose 1.6 percent at $38.51.

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