Coca Cola Beats Earnings Estimates Despite Slowing Soda Sales

Coca Cola's (KO) first quarter results beat analyst estimates on Wednesday. The company reported earnings of $1.56 billion or $0.35 per share, down from from $0.36 per share last year. The strong dollar weighed on Coke's bottom line but the stock was up on the better than expected results.The beverage giant saw the first rise in revenue for nine quarters, boosted by a six percent increase in the North American market. The maker of Spite, Minute Maid and Powerade has been working to cut $3 billion in costs and has raised product prices to offset declining soda sales. Sales of non-carbonated drinks were up 2 percent.