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Coca-Cola's profit up 3 percent on stronger sales

Tuesday, 16 Oct 2012 | 7:57 AM ET

NEW YORK -- The Coca-Cola Co. says its net income rose 3 percent in the third quarter, as the world's biggest beverage maker sold more of it drinks around the globe and raised prices.

The Atlanta-based company, which makes Sprite, Dasani water and Powerade, says global sales volume rose 4 percent during the period, with growth across every region.

The company says it earned $2.31 billion, or 50 cents per share, for the period ended Sept. 28. That's compared with $2.22 billion, or 48 cents per share, in the year-ago quarter. Not including one-time items, the company says it earned 51 cents per share, in line with analyst expectations.

Revenue rose 1 percent to $12.34 billion, but fell shy of Wall Street expectations of $12.4 billion.

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