Coca-Cola Co., KO +1.53% the Atlanta soft-drink firm, reported on Tuesday that second-quarter net income was about even with a year earlier on 2.7% higher revenue. Earnings were $2.79 billion versus $2.8 billion in the year-earlier period. Profit per share rose to $1.21 from $1.20 as shares outstanding fell 1.5% to 2.3 billion. Revenue reached $13.09 billion from $12.74 billion. A survey of analysts by FactSet Research produced a consensus estimate of profit of $1.19 a share. Coke sold 4% more drinks by volume in the latest quarter than it did a year earlier. Carbonated-beverage volume rose 2% and non-carbonated drinks — water, juice, juice drink, tea and coffee, and sports and energy drinks — rose 9%.
July 17, 2012 - 9:09 am