Coca-Cola (NYSE:KO) announced a 3.9 percent increase in profit during the third quarter due to improving sales in Europe. Net income increased to to $2.31 billion, or 50 cents a share, up from $2.22 billion, or 48 cents per share, in the same period last year. Revenue increased by less than 1 percent to $12.3 billion, not meeting the $12.4 billion analysts had expected.
Shares are lower by over one percent.
Rival PepsiCo (NYSE:PEP) is expected to announced strong quarterly earnings on Wednesday.
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