| As of Tuesday, November 24th: |
LATEST EARNINGS RESULTS
- Consumer Mood Improves, But Anxiety Over Finances
- Jobless Claims Below 500,000, Durable Orders Slip
- AIG Board OKs CEO Pay; Benmosche Agrees to Stay
- Half of Banks' Losses May Still Be Hidden: IMF Head
- Obama Going to Copenhagen Climate Summit
- Half of Banks' Losses May Still Be Hidden: IMF Head
- Americans Ditch Planes for Trains this Thanksgiving
- Oil Price to Average $75.40 in 2010: Poll
- FDIC's Bair Cautions on Risks in Bank Break-Up Plan
- Topless Business Is Taking Off
- 3 Software Stock Picks from Lazard's Senior Analyst
- Schork Oil Outlook: Gas Bulls Pinning Hopes on Mother Nature
- Toyota Makes Recall Fix And So Long Saab
- Investors Bet on a New Year's Rally For eBay
- Why You Should Play the Reflation Trade: Stock Picker
- Citi Mortgage Reveals What Treasury Won't
- S&P to Hit 1,200 by Year-End: Chief Investor
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Ritz-Carlton ?Struggling? in the US: President
- Oil Price to Average $75.40 in 2010: Poll
- Half of Banks' Losses May Still Be Hidden: IMF Head
- Obama Reiterates Commitment to Boost US-India Ties
- NBA D-League On The Rise
- Americans Ditch Planes for Trains this Thanksgiving
- Jobless Claims Below 500,000, Durable Orders Slip
- Citi Mortgage Reveals What Treasury Won't
Text Size 
Coca-Cola reported better-than-expected quarterly profit before one-time items, helped by the weak dollar, and its shares rose 1.6 percent in premarket trade.
 |
Click for more earnings info |
The world's largest soft-drink maker said net income was $1.42 billion, or 61 cents per share, in the second quarter ended June 27, compared with $1.85 billion, or 80 cents per share, a year earlier.
Excluding a charge of 40 cents per share at bottler Coca-Cola Enterprises [CCE
Loading...
()
], which is about 35 percent-owned by Coca-Cola, the company earned $1.01 per share.
Analysts' average earnings forecast was 96 cents per share, according to Reuters Estimates.
Net operating revenue for the quarter rose 17 percent to $9.05 billion.
Coca-Cola [KO
Loading...
()
], which derives about 70 percent of its revenue from outside North America, said 9 percentage points of the revenue increase was due to the weak dollar, which boosts the value of international sales when they are converted to dollars for inclusion in the company's financial statements.
The revenue rise included 3 percentage points from higher sales of drink concentrate, 2 points from bottler acquisitions, and 3 points from higher prices and more sales of higher-priced products.
Overall unit case volume rose 3 percent, led by a 5 percent increase in markets abroad. North American volume was flat.
The company said sales growth was strong in Latin America, China, Turkey, India, Eastern Europe, Southern Eurasia, the Middle East and North and West Africa. Volume fell 1 percent in Japan and the European Union.
Like other soft-drink makers, Coke's U.S. sales have slowed as consumers grapple with soaring food and fuel costs, declining home values and job uncertainty.
Also, increasingly health-conscious consumers have been opting for drinks seen as good for you, such as bottled teas or vitamin-enhanced waters.
The company, whose brands include Minute Maid juice, Powerade sports drink and Dasani bottled water, said it is targeting $400 million to $500 million in annual cost-savings by the end of 2011.
Coke shares fell over 4 percent in early trading on the New York Stock Exchange.
Print
Email
- TiVo Reports Quarterly Loss but Matches Forecasts
TiVo announced a quarterly loss that matched analysts' forecasts, but its sales topped expectations.
- Hewlett-Packard Profit Rises, Matches Guidance
Hewlett-Packard said a strong performance in China and improved profit margins in its services business helped drive quarterly earnings 14 percent higher.
- Analog Devices Results Beat Expectations; Shares Rise
Analog Devices reported a quarterly profit that fell from a year ago but topped Wall Street's expectations, sending shares higher in extended trading.
- TiVo Reports Quarterly Loss but Matches Forecasts
- Tyson Food Profit Beats Estimates
Tyson Foods posted higher-than-expected quarterly results on Monday on strength in its beef, pork and prepared foods businesses, which it expects to continue in its new fiscal year.
- Tyson Food Profit Beats Estimates
- Horton Results Miss Estimates, Shares Drop
- Dell Shares Smacked as Earnings, Sales Miss Forecasts
- Gap Reports Earnings in Line With Forecasts
- Intuit Posts Narrower-Than-Expected Loss
- Sears Posts Second Consecutive Quarterly Loss
- BJ's Wholesale Profit Falls, Hurt by Falling Food Prices
- Salesforce Profit Beats Forecasts, but Shares Fall
- Autodesk Shares Fall on Disappointing Outlook
- Home Depot Profit Beats; Says Markets Under Pressure
- Target Third Quarter Profit Up, Cautious on Fourth
- Weak US Housing Market Drags on Lowe's Profit
- JC Penney Profit Falls, but Shares Up on Forecast
- Disney Profit, Sales Top Forecasts; Shares Jump
- Nordstrom Earnings Miss Forecasts; Shares Take Hit
- Wal-Mart Holiday Forecast Light, Profit Beats
Data is a real-time snapshot *Data is delayed at least 15 minutes