Coca-Cola posted better-than-expected revenue in the fourth quarter as its sales volumes rose in the U.S., China and elsewhere.
Revenue for the Atlanta beverage giant rose 6% to $11.5 billion. That was better than the $10.68 billion Wall Street was expecting, according to analysts polled by FactSet.
Analysts had expected Coke's unit case volumes to be up less than 1%. But the company reported unit case volumes up 2%, reversing a slide from earlier in the year.
Coca-Cola Zero Sugar saw strong growth globally in the fourth quarter, with case volumes up 13%. Water, coffee, tea and sports drink volumes were all up 2%, the company said Tuesday. Volumes for juice, dairy and plant-based drinks fell 1%.
Net income rose 11% to $2.2 billion for the October-December period. Adjusted for one-time items, the company earned 55 cents per share. That also beat analysts' forecasts of 52 cents.
Coke's shares rose nearly 4% in premarket trading Tuesday.