ATLANTA (Bloomberg) - Coca-Cola Co., the world's largest soft-drink maker, said first-quarter profit rose 20 percent, bolstered by sales in Latin America.

Net income increased to $1.61 billion, or 69 cents share, in the quarter ended April 2 from $1.35 billion, or 58 cents, a year earlier, the company said yesterday in a statement.

Revenue rose five percent to $7.53 billion, the company said. Eight analysts predicted $7.72 billion, on average. Global sales by drink volume grew three percent, helped by a four percent increase in Latin America. Sales by drink volume in North America declined two percent.

Coca-Cola is seeking to boost revenue and volume as consumers recover from a global recession. Sales have bounced back faster in emerging markets than in larger markets including the US, Coca-Cola said.

Shares in the Atlanta-based company fell 57 cents to $54.75 at 10.03 a.m. in New York Stock Exchange composite trading. The stock had dropped 2.9 percent this year before today, while Purchase, New York-based PepsiCo Inc. had gained 8.8 percent and the Standard & Poor's 500 Index rose 7.4 percent. PepsiCo plans to announce first-quarter earnings on April 22.

Earnings excluding some items totaled 80 cents a share, Coca-Cola said. Analysts predicted 74 cents, the average of 12 estimates compiled by Bloomberg.

The company also named Steve Cahillane, president of Coca- Cola Enterprises Inc.'s North America unit, to run a new bottling and foodservice division when it combines with Coca- Cola later this year.

Cahillane, who joined Coca-Cola Enterprises in 2007, will become president and chief executive officer of Coca-Cola Refreshments Inc. The bottling unit will include Minute Maid juices and supply chain operations.

Coca-Cola expects to complete the purchase of CCE in the fourth quarter. Coca-Cola North America president Sandy Douglas will retain that role. Both will report to chairman and CEO Muhtar Kent