Fizzy drinks maker The Coca-Cola Co (NYSE:KO) topped earnings estimates with its third quarter results, albeit only just.
Analysts had been anticipating earnings per share of 49 cents, and the final figure surpassed this by a penny.
Revenue fell 15% to US$9.08bn from US$10.63bn the year before, but was ahead of expectations of US$8.84bn.
The group said the net revenues continued to be affected by a head-wind from refranchising. The sugary drinks maker said progress was made in its North America bottler refranchising plan during the quarter.
"I am encouraged with our progress and results in the quarter," said James Quincey, president and chief executive officer of The Coca-Cola Company.
"Our performance reflects the strength of an organization that is focused on delivering against its financial commitments while also making substantial structural and cultural changes," he added.
The stock was barely changed in the opening hour of trading.