The Coca-Cola Company, the world’s largest soft drinks maker, reported a 16% increase in net income to $1.37 billion, or 32 cents per share in the first quarter of 2018.
Coca-Cola earned $0.47 a share from continuing operations. However, the company's revenue declined by 16% to $7.63 billion over the same quarter last year. Revenue was, however, ahead of analysts' expectations of $7.34 billion, or $0.46 per share.
Overall sales volume rose by 3% in the first three months of the year. The world's largest drinks maker reported a 4% jump in sales in Europe, the Middle East and Africa. An increase in sales was also seen in Latin America (+1%), the US (+2%) and in the Asia-Pacific region (+5%).
The company forecasts that its adjusted earnings per share will increase by 8-10% this year, and revenue will rise by 4%.
