NEW YORK (CNN/Money) - Soft-drink maker Coca-Cola Co. posted slightly improved fourth-quarter results Wednesday that appeared to meet Wall Street forecasts.

The Atlanta-based company earned $930 million, or 38 cents a share, up from $914 million, or 37 cents, a year earlier. But the latest quarter includes a 2 cent a share reduction in earnings to account for the value of stock options, the first time the company has broken out that cost. Analysts surveyed by earnings tracker First Call had a consensus earnings per share forecast of 40 cents, and First Call said those estimates excluded the option costs.

The company was helped by acquisitions and strategic alliances during the year with Evian, Danone waters and Seagram's Mixers, which helped increase total shipments 6 percent overall. Without those deals shipments would have increased 4 percent.

The company recorded increased shipments around the globe, with Asia posting the largest increase of 10 percent, and North America posting a 5 percent gain. Revenue increased 13 percent to $4.8 billion from $4.2 billion a year earlier.

Shares of Coke (KO: up $1.10 to $40.10, Research, Estimates), a component of the Dow Jones industrial average, gained about 3 percent in midday trading Wednesday.