Overseas growth spurs Coca-Cola income
April 20, 2010
ATLANTA — While results in the United States were down, emerging markets helped drive a 20% increase in net income for the Coca-Cola Co. during the quarter ended April 2.
Net income in the first quarter totaled $1,614 million, equal to 70c per share on the common stock, up from income of $1,348 million, or 58c per share, in the first quarter of fiscal 2009. The company had net operating revenue of $7,525 million, up 5% from $7,169 million.
“I am once again pleased with the results of the quarter as we continue to grow our dynamic global business,” said Muhtar Kent, chairman and chief executive officer. “During the quarter we continued to achieve solid business results worldwide, all while taking decisive action to strategically advance our North America business and further strengthen our franchise system in Europe. Despite expected ongoing challenges in global economic conditions, we continue to invest in our business and build the health of our brands fueled by world-class marketing and innovation. This led to continued value share gains and strong and consistent cash flow.
“As we look ahead to the year 2020, we see tremendous growth opportunities for our franchise system and for the entire nonalcoholic ready-to-drink beverage industry. We are working closely with our bottling partners around the globe, leveraging our scale and the increased presence of our brands. We remain confident in our ability to deliver against our strategies while laying the foundation for consistent, profitable and sustainable long-term growth, inspired by our 2020 Vision in a growing world of refreshment.”