Coca-Cola‘s profit fell 28% in the third quarter, but the company behind Diet Coke, Powerade and other drinks also said Wednesday that its global volume rose.
The Atlanta-based company said global volume rose 1% in the quarter, with gains in North America, Asia and Europe and other markets. In the quarter before, the company said global volume was flat.
In North America, volume rose 2%, thanks to its water and sports drink brands, which include Dasani and Powerade. The company also reported growth of its Sprite, Fanta and energy drink brands in North America, offsetting a decline in Diet Coke.
Overall, Coca-Cola reported net income of $1.05 billion in the three months ending Sept. 30, compared with $1.45 billion in the same period a year ago.
Revenue fell 7% to $10.63 billion, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $10.54 billion.
