Coca-Cola relied on emerging markets such as Russian, Turkey and China for much of the growth in its flagship brand in the past three months, while materials costs continued to climb.
The soft drinks giant said worldwide volumes of Coke were up 3% for the first quarter of 2011.
Profits were up 18% to $1.9bn (£1.15bn) – but still behind Wall Street predictions. Coca-Cola said it had paid out ¢300m more for commodities than over the equivalent period last year and also pointed to increased marketing costs as a factor in the performance.
“Despite ongoing global geopolitical challenges, we once again delivered consistent, quality growth across all five of our geographic operating groups, with broad share gains across categories,” said chief executive Muhtar Kent.
News of the performance comes as Coca-Cola gears up to celebrate its 125th anniversary on 8 May.
Coca-Cola confirms end of affair with potty-mouthed Rooney (6 April 2011)
Daily Bread: Coke's hero to Zero (6 April 2011)
Britain's 100 Biggest Brands 2011: Coca-Cola to Warburtons (12 March 2011)