Coca-Cola Posts 43% Jump in 2Q Earnings

You'd like to buy the world a Coke? Well, apparently the world can buy its own darn Coke, thank you very much. Coca-Cola ( KO), the world's largest beverage-maker, announced today that it posted a 43% jump in second-quarter earnings, boosted by overseas growth, which help to offset a decline caused by the stronger dollar.

During the quarter, the company earned $2.04 billion, or 88 cents a share, compared with $1.42 billion, or 61 cents in the year-ago period.

But last year was dragged down about 40 cents by restructuring charges and asset write-downs.

This year Coca-Cola incurred a 4 cent charge. Excluding the charge the company earned 92 cents a share. Analysts expected a profit of 89 cents.

Sales dropped 9% to $8.27 billion.

Case volume grew 5% overseas, including a 33% increase in India and a 14% rise in China. But in North America case volume fell 1%.

The company is on track to save $500 million a year by 2011 through restructuring, CEO Muhtar Kent said in a statement, with more than half of the savings to be reaped by the end of the year.

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