Coca-Cola's profit up 3% on stronger sales
2012-10-16 17:45:13
The Coca-Cola Co said on Tuesday its net income rose 3 per cent in the third quarter, as the world's biggest beverage maker sold more of it drinks around the globe and raised prices.
The Atlanta-based company, which makes Sprite, Dasani water and Powerade, said global sales volume rose 4 per cent during the period, with growth across every region.
The company said it earned US$2.31 billion (S$2.8 billion), or 50 cents per share, for the period ended Sept 28. That's compared with US$2.22 billion, or 48 cents per share, in the year-ago quarter. Not including one-time items, the company says it earned 51 cents per share, in line with analyst expectations.
Revenue rose 1 per cent to US$12.34 billion, but fell shy of Wall Street expectations of US$12.4 billion.