Coca-Cola profit leaps 19 percent in first quarter

ATLANTA The Coca-Cola Co. said that profits rose 19 percent on a 21 percent increase in sales in the first quarter of its fiscal year, beating Wall Street predictions.

Revenues leapt to $7.38 billion from $6.10 billion at the same time last year, the company said. Net profit totaled $1.5 billion for the quarter, compared with $1.26 billion in the first quarter of 2007. Per share, first-quarter profits came in at 64 cents, compared with 54 cents per share a year earlier.

Coca-Cola also reported that case volume saw an increase of 6 percent during the first quarter worldwide.

Coca-Cola holds its annual meeting in Wilmington, Del., today.