Coca-Cola Reports 16.4% Rise in Income

Coca-Cola Co. said its third-quarter profit rose 16.4% as improved soft drink results, a decline in the dollar and a one-time gain more than offset an operating loss in its food business and declining profitability of its entertainment unit.

Coca-Cola said its profit rose to $271 million in the three months ended Sept. 30.

The latest results included a $40 million non-cash gain related to the sale of 51% of the common stock in its bottling system in Canada.