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Tuesday, April 20, 2010 - 9:26am

Delta, Coca-Cola Release Quarterly Earnings

Two major Georgia-based companies released quarterly earnings reports on Tuesday.

Delta Air Lines says it lost $256 million in the three month period due in large part to heavy winter storms. The Atlanta-based carrier had to cancel roughly 7,000 flights as a result of repeated storms in February, resulting in $65 million in direct impact. Other airlines were also affected.

But Delta officials are encouraged by other numbers in their earnings report. Passenger revenue was up by more than $200 million, despite cutting capacity by 4 percent.

And the airline is looking ahead to a busy summer travel season to boost revenue. The industry is already experiencing higher demand and a steady stream of cash from baggage and other add-on fees.

Meanwhile, Coca-Cola says its first-quarter profit jumped nearly 20 percent on the strength of overseas growth.

The world’s largest beverage maker reports revenue of more than $7.5 billion for the three months ending April 2.

The Atlanta-based company rode a strong wave of volume sales in several overseas markets. That included in India, up nearly 30 percent...and a jump of 18 percent in Turkey.

Overseas performance helped to offset weaker sales in North America, as more consumers turn away from soft drinks, instead opting for juices and teas.

The company is in the process of injecting a boost to North American business with the acquisition of its largest bottler, Coca-Cola Enterprises. Officials hope a streamline of distribution brings lower overall costs.