Third quarter earnings posted by one of the World's top ranked companies Coca Cola Enterprises Inc., have given the company and investors a definite reason to celebrate.

With help of European market's strong growth, the firm has posted 15% rise in earnings. While the figures fell in North America, the company has every reason to be optimistic in times when most of its competitors are struggling.

In light of the new developments, Coca Cola has raised its 2009 Earnings Forecast and estimated the price of each share between $1.54 and $1.57, a definite increase from the figures shared in September which pegged the estimated price per share between $1.44 - 1.49.

As reported by the largest bottler for Coca Cola, profit figures stood at $247 Million, and the earnings per each share was 50 cents. These have been better than the figures posted last year for the same period, which stood at $214 Million, or 44 cents per share.

The profit and per share earnings made public by Coca Cola have exceeded analysts' estimates which pegged the price of each share at a mere 46 cents. The success has raised hopes for Coca Cola, its associates as well as investors.