Coca-Cola profit up, volume improves

Lower costs also helped lift profit at the world's largest soft-drink maker, which gained market share in both the carbonated and noncarbonated segments.

Coca-Cola said net income attributable to shareholders rose to $1.54 billion, or 66 cents per share, from $995 million, or 43 cents per share, a year earlier.

Analysts on average were expecting 66 cents per share, according to Thomson Reuters I/B/E/S.

Net operating revenue rose 5 percent to $7.51 billion. Analysts on average forecast $7.22 billion.

Overall sales by volume rose 5 percent, after a gain of 2 percent in the third quarter, 4 percent in the second quarter and 2 percent in the first.

Coca-Cola shares rose less than 1 percent to $53.01 in premarket trading.

Coke's growth in developing markets such as India and China has helped it weather a slowdown in the United States.

Fourth-quarter volume rose 7 percent in Latin America, 11 percent in the Pacific region, 1 percent in Europe and 5 percent in the company's Eurasia and Africa divisions.

Volume fell 1 percent in the closely watched North American market, after losing 4 percent in the third quarter and 1 percent in the second quarter.

Coke's rivalry with PepsiCo Inc is poised for a new turn this year, as the No. 2 soft-drink maker is about to complete its planned acquisition of its largest bottlers, Pepsi Bottling Group Inc and PepsiAmericas Inc , to trim costs and speed decision-making.

Coke Chief Executive Muhtar Kent has repeatedly expressed his commitment to its current decentralized, franchise bottling model.

(Reporting by Brad Dorfman with additional reporting by Martinne Geller; Editing by Derek Caney and Maureen Bavdek)