Coca-Cola Profit Sparkles

Lifted by international sales

The Coca-Cola Co. reported on Oct. 15 better than expected third-quarter profit driven by international sales that gained an extra lift from the Beijing Olympics and a weak dollar.

Third-quarter net profit leapt 14% to $1.89 billion. Operating revenue surged 20%, or 17% on a like-for-like basis, to $2.187 billion.

The Atlanta, Ga.-based Coca-Cola said it was making progress on achieving $400-500 million a year in savings through 2011 "to provide additional flexibility to invest for growth."

Third-quarter revenue soared 9% from a year ago to $8.39 billion, getting a significant boost from its sponsorhip at the Beijing Olympics.

Copyright Agence France-Presse, 2008

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