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The rise in revenue, along with a
better-than-expected profit, pushed up shares of the world's
largest beverage maker 2.5 percent to $41.80 in premarket
trading on Wednesday.
Net operating revenue from North America rose to $5.10 billion
in the first quarter ended April 3, and accounted for 47.6
percent of total revenue.
Organic revenue in the region increased 10 percent, helped by
higher concentrate sales and pricing.
Sales in North America increased in the fourth quarter for the
first time in four quarters.
U.S. sales of carbonated soft drinks have been declining for
nearly a decade, and more recently consumers have shifted away
from diet soda because of health concerns about artificial
sweeteners.
Coke has tried to diversify its business by taking a smaller
stake in companies in faster-growing markets and in some cases,
eventually acquiring them. Coca-Cola said in August it would buy
a 16.7 percent stake in Monster Beverage Corp <MNST.O>.
It also bought a 10 percent stake in Keurig Green Mountain Inc <GMCR.O>
in February last year, which it later raised to 16 percent to
become Keurig's largest shareholder.
Net income attributable to Coca-Cola's shareholders fell to
$1.56 billion, or 35 cents per share, in the first quarter, from
$1.62 billion, or 36 cents per share, a year earlier.
Excluding items, the company earned 48 cents per share.
Net operating revenue rose 1.3 percent to $10.71 billion.
Analysts on average had expected earnings of 42 cents per share
on revenue of $10.66 billion, according to Thomson Reuters
I/B/E/S.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Simon
Jennings and Maju Samuel)
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