October 18, 2011 / 11:49 AM / 7 years ago

Coca-Cola Q3 profit beats Street by a penny

(Reuters) - Coca-Cola Co (KO.N) reported a quarterly profit on Tuesday that slightly beat Wall Street estimates, as sales increased worldwide.

Bottles of Coca-Cola are seen in a warehouse at the Swire Coca-Cola facility in Draper, Utah March 9, 2011. REUTERS/George Frey

The world’s largest soft-drink maker, whose brands range from Sprite to Minute Maid and Powerade, said net income was $2.22 billion, or 95 cents per share in the third quarter, up from $2.06 billion, or 88 cents per share, a year earlier.

Excluding items, earnings were $1.03 per share. On that basis, analysts on average were expecting $1.02 per share, according to Thomson Reuters I/B/E/S.

Revenue jumped 45 percent to $12.25 billion, boosted by last year’s acquisition of its North American bottling operations, price increases and a 5 percentage-point currency benefit. Analysts expected revenue of $12.01 billion.

Worldwide volume rose 5 percent. Volume in North America also rose 5 percent, helped by the addition of new cross-licensed brands such as Dr Pepper. Excluding those brands, North American volume rose 1 percent.

Volume increased 7 percent in Latin America, 2 percent in Europe, 7 percent in the Eurasia and Africa segment and 6 percent in the Pacific region.

Coca-Cola shares fell 20 cents to $66.80 in premarket trading.

Reporting by Martinne Geller in New York; Editing by Maureen Bavdek

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