Coca-Cola Co., the world’s largest beverage company, posted first-quarter profit that beat analysts’ estimates after it enticed consumers to pay more for its drinks.
Net income fell 3.8 percent to $1.56 billion, or 35 cents a share, from $1.62 billion, or 36 cents, a year earlier, Atlanta-based Coca-Cola said Wednesday in a statement. Excluding some items, profit was 48 cents a share. Analysts estimated 42 cents, according to data compiled by Bloomberg.
Also read: Ruth's Hospitality tops 4Q profit forecasts