Coca-Cola reports higher quarterly profit, lower revenue

REUTERS - Coca-Cola Co 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 percent 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.

Excluding special items, earnings were 53 cents per share, in line with what analysts expected, according to Thomson Reuters I/B/E/S.

Revenue fell 3 percent to $12.03 billion from $12.34 billion, slightly below analysts' estimates of $12.05 billion.

 

Coca-Cola shares rose 1.1 percent to $38.33 in premarket trading.

Coke does not give quarterly forecasts, but the company said its long-term goals and strategies remained unchanged and that it would continue to invest in its brands.

(Reporting by Atossa Araxia Abrahamian; Editing by Lisa Von Ahn)