UPDATE 1-Coca-Cola 3rd-quarter profit rises

Oct 16 (Reuters) - Coca-Cola Co reported higher q uarterly earnings on Tuesday, despite a hit from foreign exchange rates.

The world's biggest soft-drink maker, with brands like Sprite, Fanta and Minute Maid, said net income was $2.31 billion, or 50 cents per share, in the third quarter that ended on Sept. 28, up from $2.22 billion, or 48 cents per share, a year earlier.

Revenue rose 1 percent to $12.34 billion.