Coca-Cola's sales fell for the fourth quarter in a row as demand for its fizzy drinks declined in Europe and a strong dollar eroded the value of sales in markets outside the US, including Latin America.
Coke and rival PepsiCo have been hurt as consumers increasingly turn health-conscious, cutting back on fizzy drinks and turning to teas, fruit juices and smoothies.
The rise in the dollar has also hit the companies, which have a sizeable presence in markets outside the US, including China, Europe and Brazil.
The average value of the dollar rose 2.6% in the first quarter from a year earlier.
The US currency had risen 18% in the first three months of 2015.
Coke's sales in Europe declined 1% to $1.20 billion in the quarter ended April 1, accounting for nearly 12% of total revenue.
Its net income fell 4.5% to $1.48 billion, or 34 cents per share.
Excluding items, Coke earned 45 cents per share, beating the average analyst estimate of 44 cents, according to Thomson Reuters.
The company's net operating revenue fell 4% to $10.28 billion. But excluding the impact of acquisitions, divestitures and currency movements, total revenue rose 2%.
