UPDATE: Coca-Cola Posts Drop In Q1 Earnings

The Coca-Cola Company

reported a drop in its first-quarter earnings. Coca-Cola's quarterly profit slipped to $1.62 billion, or $0.36 per share, versus a year-ago profit of $1.75 billion, or $0.39 per share. Its adjusted earnings declined to $0.44 per share. Its net operating revenue dropped to $10.58 billion versus $11.04 billion. However, analysts were estimating earnings of $0.44 per share on revenue of $10.55 billion. Coca-Cola's global volume increased 2% in the quarter. Coca-Cola shares gained 1.24% to $39.21 in pre-market trading.