Coca-Cola shares have outperformed its industry in the last three months. This price performance is backed by impressive earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in three of the past four quarters. Coca-Cola’s increased marketing investments are driving volume growth in stable markets like North America. Moreover, the company is on track to achieve total annualized productivity saving target of approximately $3.8 billion by 2019 from the initiatives implemented under this program since its beginning. Also, Coca-Cola’s new revenue platforms should drive growth over the long term. However, Coca-Cola’s sales are getting affected by declining demand in certain emerging and developing markets and shift in consumer preference. Severe macroeconomic challenges in certain international markets have impacted results for the cola giant, which generates about half of its sales abroad.