Dr. Pepper/Snapple Profit Tops Street View

PLANO, Texas (TheStreet) -- Costs were down. Volumes were up. As a result, Dr. Pepper Snapple(DPS Quote) rode its 23 flavors to a 46% surge in profit during the second quarter, while also raising forecasts for the year.

In an earnings announcement on Thursday, the company said that net income rose to $158 million, or 62 cents per share, from $108 million, or 42 cents share in the year-earlier quarter. Last year's results were also impacted by a series of one-time items that would have raised earnings per share to 60 cents.

Estimates from Thomson Reuters had pegged the beverage maker's income to land at 49 cents.

Revenue dropped slightly to $1.48 billion in the second quarter from $1.55 billion in the year-earlier period, though gross margins also grew due to cost cuts. Dr. Pepper also added that revenue grew by 3% after excluding currency impacts, along with the loss of a North American distribution deal with Hansen Natural(HANS Quote).

Though volumes for soda brands like 7UP, Canada Dry and A&W slipped by less than 1% in the quarter, overall volumes grew by 4%. The company said that Dr. Pepper volumes, in particular, jumped by 4%.

In the non-carbonated category, Hawaiian Punch volumes grew by 18%. Still Snapple lagged behind, dropping by 15%.

On average, analysts expected the company to generate $1.5 billion in revenue during the quarter.