Soft Drink Volume, Dollar Help Lift Coca-Cola Profit

Coca-Cola Co. said its first-quarter profit rose 15% as its worldwide soft drink volume grew, its entertainment business improved and the falling dollar helped conversion of foreign results.

Coca-Cola reported net income of $185 million in the first three months of the year, up from $161 million a year earlier.

First-quarter revenue rose 9.3% to $1.9 billion, from $1.7 billion last year.

Roberto C. Goizueta, chairman and chief executive of the Atlanta-based firm, noted that pretax operating income was up nearly 27%, to $324 million.

Coca-Cola said its worldwide soft drink volume rose 10% in the quarter compared to a year ago.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World