NEW YORK (Reuters) - Coca-Cola Co reported a better-than-expected quarterly profit on Thursday despite a recession, helped by double-digit volume gains in China, India and Eastern Europe, sending shares up 3.4 percent.
The world's top soft-drink maker said net income fell to $995 million, or 43 cents per share, in its fourth quarter, compared with $1.21 billion, or 52 cents per share, a year ago.
Excluding items such as an impairment charge related to its largest bottler, Coke earned 64 cents per share. Analysts on average were expecting 61 cents per share, according to Reuters Estimates.
Revenue fell 2.7 percent to $7.13 billion.
At the same time, Coke said the strengthening U.S. dollar reduced quarterly operating income 9 percent. It forecast a hit of 10 percent to 12 percent for the current first quarter.
Worldwide sales by volume rose 4 percent in the quarter.
Volume of carbonated soft drinks such as Coca-Cola, Fanta and Sprite rose 2 percent in the quarter. Other drinks such as juice, bottled tea and water, rose 11 percent.
Volume fell 3 percent in North America. It rose 6 percent in Latin America, 2 percent in Europe, 9 percent in the Pacific region and 7 percent in the Eurasia and Africa segment.
The company said it was on track to deliver $500 million in annualized savings from productivity improvements by the end of 2011.
Coke shares rose to $42.68 in premarket trading from Wednesday's close of $41.27 on the New York Stock Exchange.
(Reporting by Martinne Geller, editing by Maureen Bavdek)
