Net income at Coca-Cola surged by 273 per cent to $5.78bn, or $2.46 per share in the final three months of 2010, up from $1.58bn, or 66 cents in the same period the prior year. The results were in line with the expectations of Wall Street analysts and sent Coca-Cola�s shares up 1.08 per cent to $63.55 in pre-market trading in New York.
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Profits were fuelled by growth in North America, where sales volume increased by 8 per cent, marking the third successive quarter that volume picked up.
�We once again delivered strong results this quarter, with volume growth realised across all five of our geographic operating groups,� said Muhtar Kent, Coca-Cola�s chief executive.
Overall revenues at Coca-Cola were strong, jumping by 40 per cent to $10.49bn.
Sales growth in North America continues to shift away from Coca-Cola�s sparkling beverages in favour of still beverages such as Powerade, teas and �enhanced� water.
A year ago, Coca-Cola said that it would simplify its manufacturing and distribution system through a $12.6bn deal that allowed it to take control of more than 75 per cent of its US bottling business, Coca-Cola Enterprises. In the fourth quarter, it booked a $5bn one-time non-cash gain related to that transaction.
Rival PepsiCo will report its earnings on Thursday.
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