Coca-Cola on Tuesday reported quarterly earnings that met Wall Street's expectations as it sold more of its namesake soft drinks, as well as teas and waters, despite a challenging economy.
Morningstar analyst Tom Mullarkey said he was encouraged by Coke's global volume growth, which reached 2 percent overall, as well as the popularity of the Coca-Cola brand in North America. (Click here to track the company's shares.)
Although net revenue fell in the third quarter, "excluding currency and structural changes, they had both revenue growth and operating income growth... and that looks pretty good," Mullarkey said.
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The Coke brand delivered a record 181 billion servings in the quarter, Chief Executive Officer Muhtar Kent said during the company's conference call. He added that Coke was reaching younger consumers and that teens preferred it s other drinks by a 2-1 margin.