The company said revenue rose 4.5 percent on a currency-neutral basis in the first quarter, helped by a 2.3 percent increase in the number of drinks sold as well as improvements in price and mix of drinks.

Analysts were expecting growth of 4 percent, with a 1.9 percent rise in volume, according to Jefferies analysts.

Including currency fluctuations, reported revenue fell 1.7 percent.

(Reporting by Martinne Geller; Editing by Adrian Croft)