Coca-Cola announced its profits had risen during the third quarter as the biggest beverage maker in the world managed to increase sales despite the up and down conditions in the economy.
The makers of Powerade, Vitaminwater and Sprite said sales globally for the company were up 2%, fueled by performances in India, Russia and China.
Although the company, based in Atlanta, is struggling in an attempt to increase sales of its namesake beverage in the U.S., it has continued to increase sales by adding smaller bottles and cans that fit better with the lifestyles of people, as well as putting focus on some of its other drinks, specifically its flavored water.
However, drinks that are uncarbonated such as juice, bottled water and tea were up 5%. Overall volume resulted in the 2% increase.
At the same time, soda sales were doing much better in the developing markets; the company announced that its namesake soda had an increase of 22% in India, while in China the increase was 8%.
The company has blamed the volatile economic conditions on its disappointing results in other regions of the globe. In Europe, sales were down 1%. Coca-Cola cited hurricanes in Mexico helped cause sales to fall 2% for the quarter.
For the recently ended quarter, Coca-Cola earned just under $2.45 billion equivalent to 54 cents a share, which was up from the $2.31 billion or 50 cents a share for the same period one year ago.
Excluding all one-time items, per share earnings were 53 cents, which was what the expectations were from Wall Street.
