Coca-Cola Realizes Big Third Quarter Earnings

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Coca-Cola Realizes Big Third Quarter Earnings

07/21/2008
NEW YORK -- Market analysts were buoyed by Coca-Cola Co.'s third quarter results, which underscored worldwide growth for the global soft drink leader.

A profits gain of 13 percent and 19 percent spike in revenues was noted, while a 15 percent increase in earnings per share was realized. And despite a 1 percent decline in soda consumption, a 21 percent net revenue growth in North America was reported.

"Once again, this strong performance was led by our international business," Neville Isdell, Coca-Cola's chairman and chief executive officer, said in a released statement. "Emerging market growth, combined with sequential improvement in North America, resulted in our third consecutive quarter of 6 percent unit case volume growth."

According to Bloomberg, the stock is at its highest point in six years. To date, Coke shares had climbed 20 percent for the year, eclipsing the 15 percent-advance for rival PepsiCo Inc.

With roughly 70 percent of its sales outside of North America, analysts say that the company is going after stateside health-minded consumers with the introduction of Coke Zero as well as its $4.1 billion dollar purchase of Vitaminwater maker Glaceau for $4.1 billion.