Coca-Cola reports higher profit

Revenue fell 3 per cent to $12.03 billion from $12.34 billion,slightly below analysts’ estimates of $12.05 billion.

Written by Reuters | New York | Published: October 16, 2013 3:57 am

Coca-Cola reported higher quarterly earnings and lower revenue on Tuesday as strong sales of its namesake products offset the effects of global economic pressures and the costs of restructuring bottling operations in Brazil and the Philippines.

Net income rose 6 per cent to $2.45 billion,or 54 cents per share,in the third quarter from $2.31 billion,or 50 cents per share,a year earlier.

Revenue fell 3 per cent to $12.03 billion from $12.34 billion,slightly below analysts’ estimates of $12.05 billion.

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