NEW YORK (TheStreet) -- Coca-Cola (KO) may not fall into the category of momentum stock, but that hasn't stopped it from trying as it works to add value for its shareholders. Shares, at around $40.50, are down 2.1% for the year to date.
The soda company reported better-than-expected quarterly revenue on Tuesday thanks to stepped-up advertising and higher sales in emerging markets including China. Global case volumes rose 2% in the quarter, led in part by a 12% increase in China. Coke focused on marketing heavily around the Chinese New Year and it paid off, the company told analysts.
Although Coke does not report sales in China per se, the country's results fall into Coke's Asia-Pacific region, which accounted for 13% of total sales last year. That may not be a staggering percentage, but Coke did say it plans on making China a priority, as it will invest $8 billion in the country during the next five years.
The soda company will also embark on a massive marketing campaign for the World Cup soccer tournament in June in an effort to boost global revenue grwoth. The promotional program will be Coke's largest in history for the World Cup, the company said, as it attempts to gain traction in Latin America and other emerging economies.
Sales in North America and Europe, however, are not as sparkly as the company's soft drinks. North America reported stable growth during an unusually cold winter, while sales in Europe fell 4%, as consumers migrate away from soda toward healthier drinks such as juices.