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Coca-Cola profit slightly better than expected

Coca-Cola profit slightly better than expected
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First Published: Tue, Jul 19 2011. 05 23 PM IST
Updated: Tue, Jul 19 2011. 05 23 PM IST
New York: Coca-Cola Co reported slightly better-than-expected quarterly results on Tuesday, helped by strong growth in emerging markets.
The world’s largest soft-drink maker, with brands including Sprite, vitaminwater and Powerade, reported net income of $2.80 billion, or $1.20 per share for the second quarter, compared with $2.37 billion, or $1.02 per share, a year earlier.
Excluding one-time items, earnings were $1.17 per share. Analysts on average were expecting $1.16 per share, according to Thomson Reuters I/B/E/S.
Revenue rose to $12.74 billion, with worldwide volume up 6%. North American volume, excluding new cross-licensed brands such as Dr Pepper, was flat in the quarter. That compares with gains of 2% in the first quarter, 3% in the fourth quarter and 2% in the third quarter.
Analysts were expecting revenue of $12.38 billion.
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First Published: Tue, Jul 19 2011. 05 23 PM IST