Coca-Cola 1Q net income rises on overseas growth - East Valley Tribune: Business

Coca-Cola 1Q net income rises on overseas growth

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Posted: Tuesday, April 26, 2011 5:11 am

(AP) — Coca-Cola Co.'s first-quarter net income climbed 18 percent as business overseas strengthened and sales of its sodas and juices rose.

The world's largest drink maker has been looking to international markets, particularly in developing countries, to help it grow.

Coca-Cola earned $1.9 billion, or 82 cents per share, for the period ended April 1. That's up from $1.61 billion, or 69 cents per share, a year ago.

Excluding 4 cents per share in restructuring charges and other items, earnings were 86 cents per share. Analysts forecast 87 cents.

The company's stock fell 99 cents to $66.75 in premarket trading.

Revenue increased 40 percent to $10.52 billion, besting Wall Street's estimate of $10.58 billion. Much of the spike resulted from the acquisition of some bottling operations from Coca-Cola Enterprises Inc.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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