The Coca Cola Company (NYSE: KO) reported Q3 EPS of $0.53, in-line with the analyst estimate of $0.53. Revenue for the quarter came in at $11.98 billion versus the consensus estimate of $12.14 billion.

PERFORMANCE HIGHLIGHTS

• The Coca-Cola Company reported global volume growth of 1% in the third quarter and 2% year to date and gained volume and value share in nonalcoholic ready-to-drink (NARTD) beverages in the quarter.
• Global sparkling beverage volume was even in the quarter and grew 1% year to date as a challenging macroeconomic environment, adverse weather in certain regions and competitive pressures in certain markets impacted results. However, on a global basis the Company gained volume and value share in core sparkling beverages in the quarter due, in part, to successful execution of the Share a Coke marketing campaign in many markets around the world. Worldwide brand Coca-Cola volume was even in the quarter while Sprite and Fanta both grew 1%.
• The Company reported progress in certain key markets during the quarter despite a challenging macroeconomic environment. In North America, a rational approach to pricing, incremental media investments, high quality marketing programs, and disciplined price/pack strategies emphasizing small packages drove incidence and revenue growth in sparkling beverages. In key emerging markets, including India, Sub-Saharan Africa and the Middle East, our incremental media investments are driving recruitment with solid net revenue and volume growth. This gives us confidence that when we invest in our brands, align on a system plan and focus on execution, we see positive results.
• Worldwide still beverage volume grew 2% in the quarter and 5% year to date, with tea contributing 4% volume growth in the quarter and both water and energy drinks volume growing 7%. Volume growth in these beverage categories was partially offset by a decline in juices and juice drinks, due in part to price increases to cover higher input costs in North America, and a decline in sports drinks. The Company maintained global volume share while gaining global value share in total still beverages in the quarter and gained value share in juices and juice drinks, ready-to-drink tea, energy drinks and packaged water.
• After adjusting for structural changes, the Company delivered comparable currency neutral net revenue growth of 1% in the quarter, capturing global price/mix of 1%. On a year-to-date basis, comparable currency neutral net revenues grew 2% after adjusting for structural changes.
• Excluding the impact of structural changes, comparable currency neutral operating income grew 5% in the quarter and year to date, while the Company increased its media investments by double digits as compared to the prior year.
• The Company generated $8.0 billion in cash from operations year to date enabling it to pay a healthy dividend, reinvest in the business and return $1.9 billion to its shareowners through net share repurchases. The Company is now targeting full-year 2014 net share repurchases of $2.5 billion.

For earnings history and earnings-related data on The Coca Cola Company (KO) click here.