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Coca-Cola’s strong sales of Vitaminwater in the U.S., along with higher sales of soda in Asia and Latin America, boosted fourth-quarter net income 79 percent to $1.21 billion, or 52 cents a share, over last year.
Excluding restructuring costs, profit beat estimates by 3 cents, according to Bloomberg. Revenue rose 24 percent to $7.33 billion.
The promotion of Vitaminwater helped narrow the gap with Nestle SA in the non-carbonated drinks market, while no-calorie Coke Zero helped counter the shrinking demand for sugary soda in the U.S.
More soda sales in China and Mexico also helped increase fourth quarter profit.
Gains in China, India, Turkey and established markets including Latin America and Africa boosted global sales on a volume basis by 5 percent. Coke pulls nearly three-quarters of its revenue from sales outside the U.S., while rival PepsiCo gets about 40 percent of sales from overseas.
Last week, PepsiCo reported a 17 percent increase in Q4 sales, to $12.3 billion. Much of the gains came from Gatorade and Lipton bottled tea in the U.S. and Doritos in China and India.
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