NEW YORK (Reuters) - Coca-Cola Co (KO.N) reported a higher-than-expected quarterly profit on Wednesday, helped by increased sales volume in most of its markets.
The maker of Diet Coke, Sprite and Fanta soft drinks said net income was $2.37 billion, or $1.02 per share, in the second quarter that ended on July 2, up from $2.04 billion, or 88 cents per share, a year earlier.
Excluding restructuring charges and costs related to global productivity initiatives, Coke earned $1.06 per share, topping analysts’ average estimate of $1.03 per share, according to Thomson Reuters I/B/E/S.
Operating revenue rose to $8.67 billion from $8.27 billion a year ago.
Sales by volume rose 5 percent worldwide, driven by increases in all of its markets except Europe, where volume fell 1 percent.
Volume rose 2 percent in North America, 7 percent in Latin America, 6 percent in the Pacific region and 10 percent in the Eurasia and Africa region.
Integration planning for the pending acquisition of Coca-Cola Enterprises Inc’s CCE.N North American business remains on track with an expected close in the fourth quarter, the company said.
Coca-Cola shares rose 76 cents, or 1.4 percent, to $54 in premarket trading from Tuesday’s close of $53.24 on the New York Stock Exchange.
Reporting by Martinne Geller, editing by Maureen Bavdek