Coca-Cola income up 8% during quarter
October 19, 2010
ATLANTA — With increased sales of soft dinks and juices around the world and continued sales improvement in the U.S., the Coca-Cola Co. saw income rise 8% during the third quarter.
For the quarter ended Oct. 1, the company had an income of $2,055 million, equal to 89c per share on the common stock, which compared with an income of $1,896 million, equal to 82c per share, during the same quarter of the previous year. Net operating revenue was $8,426 million, up 5% from $8,044 million during the same quarter of the previous year.
“We are very pleased with our third quarter performance,” said Muhtar Kent, chairman and chief executive officer. “We successfully completed our acquisition of C.C.E.’s North American business and the sale of our Norway and Sweden bottling operations to C.C.E., on plan and in line with our commitment. And we closed this transaction on the heels of a strong quarter. We continue to build on our momentum, delivering solid volume, revenue and profit growth this quarter, with our results exceeding all of our long-term targets and generating sustainable value for our shareowners. This quarter, once again, underscores how we are advancing our 2020 Vision from a position of strength as we enter a new era of growth for The Coca-Cola Company. Together, in close alignment with our global bottling partners, we are executing with excellence around the world. Our strategies, our brands, our marketing, our innovation, our partnerships and our people are defining new growth opportunities today and shaping our system’s vision for this decade.”
Net income for the nine months ended Oct. 1 was $6,038 million, equal to $2.62 per share, up 14% from $5,281 million, equal to $2.28 per share, during the same period of the previous year. Net operating revenue was $24,625 million, up 5% from $23,480 million during the same period of the previous year.