Coke Profits Rise In First Quarter

The Coca-Cola Co. said Monday its first-quarter earnings rose 38 percent from a year ago as worldwide sales of its soft drinks increased faster than expected.

The company also benefited from the recent sale of its stake in a British bottling venture for about $1 billion.

Coca-Cola earned $987 million, or 40 cents per share, in the first three months of 1997, compared with $713 million, or 28 cents a share, in the same period last year.

The results beat analysts’ expectations of 38 cents a share for the latest period, according to a survey by First Call. Coke’s stock rose $1.25, or 2.3 percent, to $55 a share on the NYSE.