Last year, Coca-Cola (KO) acquired Coca-Cola Enterprises' North American bottling operations. In addition, volume in North America rose 3%, excluding acquisitions and the currency impacts. These two factors gave the company an outstanding quarter. The company has taken market share from its rival PepsiCo (PEP).

Coca-Cola reported Wednesday earnings of $5.77 billion, or $2.46 a share, up from $1.54, or 66 cents per share, a year ago, according to The Wall Street Journal. Excluding benefits from bottling acquisition, earnings were 72 cents a share. Revenues increased 40% to $10.5 billion, and were up 45% excluding currency impacts. Gross margins fell to 59.2% from 64.7%.

This post is part of our Hottest Products of 2007 feature. Also check out our other Hottest Products of 2007 posts and let us know which product you think is the greatest thing since sliced bread.

Amidst the blizzard of new, reformulated, ginseng-and-caffeine-enhanced, electrolyte-balanced, energy-providing drinks flooding the grocery store shelves is one new hit product that thrives for one simple reason -- it tastes better than its competitors. For Coca-Cola (NYSE: KO), Coke Zero, meant to emulate the taste of original Coke instead of the flavor of Diet Coke, has been a home run.

First launched in 2005, the brand did not catch fire until the company recast the brand this year with an edgier image. The ad campaign by Caren Pasquale Seckler Crispin Porter Bogusky, in which supposed Coke executives tried to sue Coke Zero for "taste infringement" appealed to a younger demographic. Other keys to the brand were the introduction of its black can and the removal of the word "diet," a term that young males do not respond to.