The Coca-Cola Co., the world's largest beverage maker, reported Wednesday a 13 percent increase in third-quarter profit on a double-digit increase in sales.
The results beat Wall Street expectations.
For the three months ending Sept. 28, Atlanta-based Coca-Cola said it earned $1.65 billion, or 71 cents a share, compared to a profit of $1.46 billion, or 62 cents a share, for the same period a year ago.
The latest quarter's results included a 3 cents per share charge primarily related to restructuring, which was offset by a 3 cents per share gain primarily related to the sale of a portion of the company's investment in Coca-Cola Amatil Ltd.
Analysts surveyed by Thomson Financial were expecting earnings of 68 cents per share in the third quarter.
Revenue in the quarter rose 19 percent to $7.69 billion, compared to $6.45 billion recorded in the same period a year ago.
For the first nine months of the year, Coca-Cola said it earned $4.77 billion, or $2.05 a share, compared to a profit of $4.40 billion, or $1.87 a share, for the same period a year earlier. Nine-month revenue rose 19 percent to $21.53 billion, compared to $18.16 billion recorded a year earlier.
Coca-Cola said that companywide, total unit case volume increased 6 percent in the third quarter. International operations delivered 8 percent unit case volume growth in the quarter. In Coca-Cola's key North America unit, the company recorded 1 percent unit case volume growth, which Coca-Cola said showed improved performance and the benefit of acquisitions.