Coca-Cola reports 8% net income growth in Q1

PanARMENIAN.Net - The Coca-Cola Co. said Tuesday, April 17 that its net income rose 8 percent in the first quarter as it sold more of its beverages around the world, AP reported.

The world's biggest drink maker said it earned $2.05 billion, or 89 cents per share, for the three months ended March 30. That's compared with a net income of $1.9 billion, or 82 cents per share, in the year-ago period.

Analysts on average expected a profit of 88 cents per share, according to FactSet. Shares of Coca-Cola rose $1.04, or 1.4 percent, to $73.48 in premarket trading.

The Atlanta-based company said the higher profit was driven by a 5 percent increase in global volume.

Although growth came from all regions, the increases were far greater in emerging markets such as China, India and Russia. Overall, international volumes grew 6 percent, compared with 2 percent in North America. Expansion overseas has become an increasing focus for the company as sales have slowed in the U.S.

Coke is looking beyond soda and turning to its broader portfolio of beverages as consumers grow more concerned about health. Bottled water volume grew 15 percent in the quarter, while energy drinks volume rose 25, surpassing the volume gains in the company's namesake Coca-Cola soda, which increased 4 percent.