Coca-Cola income gains in Q2
By Emily Fredrix |
July 22, 2010, Thursday
|
Print Edition
Print Edition
COCA-COLA Co's second-quarter net income climbed 16 percent as the world's largest drink maker sold more soft drinks and juices in every part of the world except Europe.
The Atlanta-based maker of Coke and Sprite left its 2010 guidance unchanged yesterday but said it remains cautious about meeting its targets.
The company said it earned US$2.37 billion, or US$1.02 per share, in the three months ending July 2. In the same period last year, Coca-Cola earned US$2.04 billion, or 88 US cents.
Excluding a charge for restructuring, Coca-Cola earned US$1.06 per share.
Analysts expected earnings of US$1.03 per share on revenue of US$8.7 billion, according to Thomson Reuters.
Revenue rose 5 percent to US$8.67 billion.
Worldwide, the amount of drinks sold increased 5 percent. Growth overseas continued to outpace domestic increases.
The company and rival PepsiCo Inc are concentrating on adding sales in emerging markets such as China and India, as people there earn more money.
Developed markets such as the United States and Europe have been weaker because shoppers are still watching their spending because of fragile economies.
Juices and other drinks posted a 10 percent gain in sales volume in the quarter, while soft drinks rose 3 percent.
People are increasingly turning to juices, teas and waters for health reasons, leaving soft drink sales weak in the US and Europe.
Europe's sales volume dropped 1 percent - the only regional decline - because of continued weakness in the economy. Eurasia and Africa grew the most, 10 percent.
The Coca-Cola brand's sales volume rose 5 percent on gains from the company's sponsorship of the World Cup and other marketing efforts.
The Atlanta-based maker of Coke and Sprite left its 2010 guidance unchanged yesterday but said it remains cautious about meeting its targets.
The company said it earned US$2.37 billion, or US$1.02 per share, in the three months ending July 2. In the same period last year, Coca-Cola earned US$2.04 billion, or 88 US cents.
Excluding a charge for restructuring, Coca-Cola earned US$1.06 per share.
Analysts expected earnings of US$1.03 per share on revenue of US$8.7 billion, according to Thomson Reuters.
Revenue rose 5 percent to US$8.67 billion.
Worldwide, the amount of drinks sold increased 5 percent. Growth overseas continued to outpace domestic increases.
The company and rival PepsiCo Inc are concentrating on adding sales in emerging markets such as China and India, as people there earn more money.
Developed markets such as the United States and Europe have been weaker because shoppers are still watching their spending because of fragile economies.
Juices and other drinks posted a 10 percent gain in sales volume in the quarter, while soft drinks rose 3 percent.
People are increasingly turning to juices, teas and waters for health reasons, leaving soft drink sales weak in the US and Europe.
Europe's sales volume dropped 1 percent - the only regional decline - because of continued weakness in the economy. Eurasia and Africa grew the most, 10 percent.
The Coca-Cola brand's sales volume rose 5 percent on gains from the company's sponsorship of the World Cup and other marketing efforts.
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