Coca-Cola on Wednesday reported a rise in revenue for the first time in nine quarters, helped by a 6 percent rise in revenue from North America, its biggest market.
The company is in the middle of a transition year, and investors should see acceleration in volume growth as Coke continues to take out costs and invest back in its brands, said Nik Modi, consumer analyst at RBC Capital Markets.
"Going back a couple of years, Coke cut marketing spend when currencies really started to get bad, and they're just rebuilding their marketing budget now. Usually it takes 1½ to two years to get a full return on that spend," he said on CNBC's "Squawk Box."
The world's largest beverage maker's shares rose more than 1 percent in early trading Wednesday to $41.30.