Coke's profit, revenue fall in third quarter

ATLANTA - Coco-Cola's (KO) profit and revenue fell in the third quarter as the world's biggest drink maker booked one-time charges related to its cost-cutting push and it also took a hit from the strong dollar.

The maker of Sprite, Fanta and Dasani water said Wednesday that global sales volume rose 3 percent, with non-carbonated drinks up 6 percent and carbonated drinks up 2 percent.

In North America, soda volume declined while non-carbonated drinks rose 7 percent. Like rival PepsiCo Inc., Coca-Cola's volume growth is being driven by non-carbonated drinks like bottled waters and teas.

For the quarter ended Oct. 2, Coca-Cola earned $1.45 billion, or 33 cents per share. Not including one-time items, Coke earned 51 cents per share, or a penny more than Wall Street expected, according to Zacks Investment Research.

Total revenue was $11.43 billion, short of the $11.61 billion analysts expected.

Shares of Coke fell 2 percent to $41.45 before the opening bell.