Coca-Cola announced second-quarter earnings and earnings that exceeded analyst expectations, supported by its efforts to bring its diet drinks all over the world.
The Company generated net income of $ 2.32 billion, or 54 cents per share, compared to $ 1.37 billion or 32 cents per share in the same quarter last year] After adjusting for continuing operations and other items, Coke said it had earned 61 cents a share, which is a penny better than analysts would have expected, according to those surveyed by Thomson Reuters analysts.
Income from operations increased 68 percent to 53 cents
Coke said revenue decreased 8 percent to $ 8.90 billion from a year ago, but sales exceeded expectations as the decline was expected as the company worked to restructure its bottling operations 9010] Volume had increased by 2 percent, partly due to double-digit growth at Coca-Cola Zero Sugar. His water and sports drinks, which include brands such as Powerade, grew 4 percent.
Coke said organic sales grew 5 percent in the second quarter, which fades out the effects of currency fluctuations. With growth of 7 percent and 11 percent respectively, the company recorded the strongest organic sales growth in Europe, the Middle East, Africa and Latin America.
These regions helped counteract the weakness in North America, where Coke's organic sales fell 1 percent. 19659003] Volume in the region grew by one percent, dragged by weakness in its juice brands like Minute Maid. The company attributed this decline to smaller packaging and a shift away from its less profitable juice drinks.
Its carbonated drinks, such as Coca-Cola Zero Sugar, have now reached double digit volume growth.
For the year, Coca-Cola expects at least 4 percent organic sales growth and at least 9 percent growth in adjusted net income.