Coca-Cola earns S$3.5b in Q2
2012-07-18 17:50:44
Coca-Cola on Tuesday reported a higher-than-expected quarterly profit as rising consumption of its beverages in emerging markets offset declines in Europe.
The world's largest soft drink company, maker of Sprite, Minute Maid orange juice and vitamin water, said second-quarter sales volume rose 4 per cent, with North America growing 1 per cent and international markets up 5 per cent.
Volume jumped 12 per cent in Eurasia and Africa, 8 per cent in the Pacific region and 3 per cent in Latin America. It fell 4 per cent in Europe, hurt by the regional economic slowdown.
Net income was US$2.79 billion (S$3.5 billion), a shade below US$2.8 billion a year earlier. Net earnings per share rose to US$1.21 from US$1.20 because of fewer shares outstanding. Excluding items, earnings were US$1.22 per share, topping the analysts' average estimate of US$1.19, according to Thomson Reuters.
Revenue rose about 3 per cent to US$13.09 billion. Analysts had expected US$12.98 billion.