Coca-Cola Second Quarter Net Income Rises on Overseas Growth
Coca-Cola Co.''s second-quarter profit rose 18 percent on strong growth overseas and the acquisition of a bottler, according to the Associated Press. The results beat expectations and the company''s stock hit a 52-week high. The world''s largest beverage maker has shown consistent growth for years because of major gains in emerging markets such as Latin America, India and China, coupled with steady sales in established markets. Coca-Cola, based in Atlanta, is now relying more critically on these regions as its business in established markets like the U.S. and Europe continues to be crimped by economic woes. Coca-Cola reported that its net income rose to $2.8 billion, or $1.20 per share, from $2.37 billion, or $1.02 per share, in the same quarter last year. Revenue climbed 47 percent to $12.74 billion, largely on its bottler acquisition. The results beat analyst forecasts of $1.15 per share on revenue of $12.39 billion, according to FactSet. Coca-Cola, which has more than 500 brands including Fanta, Sprite, Dasani and Minute Maid, said its global sales volume increased 6 percent. The company''s international sales volume was up 6 percent and sales volume rose 4 percent in North America.