Reuters: Global Markets: Coca-Cola profit beats as volume grows

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Coca-Cola profit beats as volume grows Apr 17th 2012, 12:21 Tweet Share this Email Print Related News Stock futures up as Spanish yields ease; earnings in focus 8:05am EDT Citi profit tops expectations, bond trading helps Mon, Apr 16 2012 Wells Fargo profit rises, but expense concerns weigh Fri, Apr 13 2012 JPMorgan gets boost from better economy, trading Fri, Apr 13 2012 Alcoa surprises Wall Street with first-quarter profit Tue, Apr 10 2012 Analysis & Opinion Global cues likely to dominate market Related Topics Hot Stocks » Asian Markets » Bottles of Coca-Cola are seen in a warehouse at the Swire Coca-Cola facility in Draper, Utah March 9, 2011. Credit: Reuters/George Frey By Martinne Geller Tue Apr 17, 2012 8:21am EDT (Reuters) - Coca-Cola Co (KO.N) reported higher-than-expected quarterly results on Tuesday after the world's largest soft drink maker raised some prices and sold more beverages. The maker of Sprite, Minute Maid orange juice and vitaminwater also said it was on track with a productivity program aiming to save $550 million to $650 million a year by the end of 2015. Coke shares rose 1 percent to $73.18 per share in premarket trading. Soft drink sales have been strong in developing markets such as India and China with increasing numbers of middle class consumers. But growth has been harder to come by in the mature markets of Western Europe and North America, where growing health consciousness and struggling economies have curbed demand. Still, Coke said quarterly volume rose 2 percent in North America and 1 percent in Europe. Volume also rose 5 percent in Latin America, 9 percent in Eurasia and Africa and 8 percent in the Pacific region. Overall, volume rose 5 percent. First-quarter net profit was $2.05 billion, or 89 cents per share, up from $1.90 billion, or 82 cents per share, a year earlier. Revenue rose 6 percent to $11.14 billion. Analysts on average were expecting earnings of 87 cents per share on revenue of $10.82 billion, according to Thomson Reuters I/B/E/S. In the key North American market, revenue rose 5 percent, helped by a 3 percentage point increase in price and mix of products and the acquisition of a small bottler. Profit in the segment declined though, due to higher commodity costs and one less selling day. (Reporting by Martinne Geller in New York; Editing by Gerald E. McCormick, Lisa Von Ahn, Dave Zimmerman) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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