Coca-Cola 2nd-Quarter Profit Rises 43 Percent

Coca-Cola, the world’s largest beverage maker, says its second-quarter profit rose 43 percent even as sales fell, beating Wall Street expectations. The increase comes because last year’s quarter was dragged down by big restructuring charges and asset write-downs.

AP
Published: July 21, 2009

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ATLANTA (AP) - Coca-Cola, the world’s largest beverage maker, says its second-quarter profit rose 43 percent even as sales fell, beating Wall Street expectations.

The increase comes because last year’s quarter was dragged down by big restructuring charges and asset write-downs.

The Atlanta-based company says it earned $2.04 billion, or 88 cents per share, in the three months ending July 3. That’s up from $1.42 billion, or 61 cents per share, a year earlier.

Excluding restructuring charges, write-downs and other items, Coca-Cola earned 92 cents per share in the most recent quarter. Analysts expected 89 cents per share.

Sales fell 9 percent to $8.27 billion, mostly hurt by the strong dollar. Wall Street’s revenue estimate was $8.66 billion.