The Coca-Cola Co., the world's largest beverage maker, reported Wednesday a 13 percent increase in third-quarter profit on a double-digit increase in sales.The results beat Wall Street expectations. For the three months ending Sept. 28, Atlanta-based Coca-Cola said it earned $1.65 billion, or 71 cents a share, compared to a profit of $1.46 billion, or 62 cents a share, for the same period a year ago.

The latest quarter's results included a 3 cents per share charge primarily related to restructuring, which was offset by a 3 cents per share gain primarily related to the sale of a portion of the company's investment in Coca-Cola Amatil Ltd.

Analysts surveyed by Thomson Financial were expecting earnings of 68 cents per share in the third quarter.



Revenue in the quarter rose 19 percent to $7.69 billion, compared to $6.45 billion a year ago.

Coca-Cola shares rose 95 cents, or 1.6 percent, to $58.71 in morning trading Wednesday.

For the first nine months of the year, Coca-Cola said it earned $4.77 billion, or $2.05 a share, compared to a profit of $4.40 billion, or $1.87 a share, for the same period a year earlier. Nine-month revenue rose 19 percent to $21.53 billion from $18.16 billion a year earlier.

Coca-Cola said that companywide, total unit case volume increased 6 percent in the third quarter. International operations delivered 8 percent unit case volume growth in the quarter. In Coca-Cola's key North America unit, the company recorded 1 percent unit case volume growth, which Coca-Cola said showed improved performance and the benefit of acquisitions.

Sales were strong in Africa and India in the quarter, but weak in parts of Europe. Coca-Cola said unit case volume in its European Union Group decreased 2 percent in the quarter, compared to 10 percent growth in the prior-year quarter. In particular, unit case volume in Germany decreased 9 percent in the quarter. Coca-Cola cited industry softness and unfavorable summer weather.

The company believes performance will improve in Germany over time because of changes it has made there. In September, the company completed the consolidation of its German bottling system.

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