Washington: Coca-Cola Co beat Wall Street estimates with quarterly results on Tuesday, citing more demand for Coke Zero Sugar and new flavours under its Diet Coke brand as overall revenue topped expectations by around $300 million.
Net profit also beat consensus forecasts by 1 cent per share, the drink maker said, and its shares rose about 1 percent to $44.44 in premarket trade.
The company said the launch of its popular low-calorie Diet Coke in sleeker tins and flavours including ginger-lime and feisty cherry drove Diet Coke volumes up 3 percent, marking a return to growth for the brand in North America.
Overall, volumes rose 3 percent, with growth in both sodas and teas and coffees driving much of the gains. Organic sales, that exclude gains from acquisitions or divestitures, rose 5 percent in the first quarter.