Coca-Cola Posted Solid First Quarter Financials

Coca-Cola announced it is on track to meet financial targets for the year, thanks to its refranchising strategy – net revenues declined by 16 percent as a result – and growth in new and core beverage brands. The company reported first quarter profit of $0.47 a share on revenue of $.6 billion, both numbers beating analyst estimates ($0.47 a share and $7.35 billion, respectively). The healthy numbers excited investors: shares rose by 1.6 percent after the results were announced. The stock was down more than four percent this year. In addition to selling off company-owned bottlers, Coca-Cola has invested in start-up beverage companies and relaunched its Coke Zero and Diet Coke brands with new flavors and packaging. First-quarter growth of the Coke Zero Sugar brand reached double-digits, and volume growth of Diet Coke in North America returned to positive territory.