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Coke (KO Quote) posted a first quarter that surged past Wall Street's expectations, fueled by revenue growth that came in twice as fast as analysts were predicting.
The Atlanta-based drinks company made $1.26 billion, or 54 cents a share, for the quarter ended March 30, up from the year-ago $1.11 billion, or 47 cents a share. Excluding certain items, latest-quarter earnings were 56 cents a share. Revenue jumped 17% from a year ago to $6.1 billion.
Analysts surveyed by Thomson Financial were looking for a 53-cent profit on sales of $5.63 billion.
"You can track our progress bottle by bottle around the globe," CEO Neville Isdell said. "We grew both sparkling and still beverages while efficiently allocating our resources." ...
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