Coke benefits from higher prices in North America

NEW YORK (AP) — Coca-Cola reported a better-than-expected quarterly profit on today as it worked on trimming costs and fetched higher prices for sodas in North America.

The world's biggest beverage maker has been struggling to boost global sales volume amid economic volatility overseas and a shift away from soda back at home.

To make up for weak volume gains, it's using a variety of tactics, including a focus on "mini-cans" and smaller bottles in the U.S. that are positioned as premium products and help boost revenue.

For the quarter, the company's soda volume in North America was flat, while volume for non-carbonated drinks rose 3 percent. Its "price/mix" for the region, which factors in the price and size of its products, rose 4 percent.

"A lot of it was driven by the smaller cans, which are more premium-priced," said Kathy Waller, Coca-Cola's chief financial officer, in a phone interview.