Global drinks giant Coca-Cola reported a higher quarterly profit, despite unstable trading situations.
Volatility across emerging markets
The company said it was on track to accomplish its goal of doubling its 2010 “system revenue,” which includes its sales, by 2020.
Muhtar Kent, chief executive of Coca-Cola, said in a conference call with analysts and investors that the company would proceed by investing in its brands and seeking acquisitions.
Net income rose to $2.45 billion in the July-to-September period, higher by 6% from the same quarter last year.
Global sales increased by 2%, helped by increasing sales of waters, sodas, and teas.
Kent said the results were “sound,” despite instability across emerging markets.
Leading soda brand
Morningstar analyst Tom Mullarkey said he was encouraged by Coca-Cola’s global volume growth.
“Soda is not doing great overall in the U.S.,” Mullarkey explained, “but the Coke brand is the leading soda brand, and so the company continues to push it forward.”
Kent said the “company remains committed to its long-term performance goals… by providing our consumers with the brands and beverages they love.”
Earlier this year, Coca-Cola expected 2013 would be unpredictable amid economic changes in China, instability in Europe, slow recovery in the United States, and challenges for Japanese consumers.