UPDATE: Coca-Cola Posts Higher Q4 Earnings

Coca-Cola Co KO reported better-than-expected fourth-quarter earnings. Coca-Cola's quarterly net income surged to $1.87 billion, or $0.41 per share, from $1.66 billion, or $0.36 per share, in the year-ago period. Excluding one-time items, it earned $0.45 per share, beating analysts' estimates of $0.44 per share. Its revenue gained 4% to $11.46 billion, versus expectations of $11.53 billion. Coca-Cola shares dropped 0.21% to $38.51 in after-hours trading.