Soft drink maker
said its second-quarter profits were up 15% on higher worldwide case volume.
The company earned $1.29 billion, or 52 cents a share including a negative foreign currency impact of 2 cents, up from $1.118 billion, or 45 cents a share, in the year-ago quarter. According to Thomson Financial/First Call, Wall Street analysts had been expecting 52 cents a share.
Quarterly revenue was up 15% as well to $5.368 billion from $4.653 billion last year, while total worldwide case volume increased 5% from a year ago. Coca-Cola said its carbonated soft drink category saw the most growth on a year to date basis, increasing more than 2%.
Case volumes in Asia increased 14%, which helped to offset weaker-than-expected Latin American results.
Going forward, the company said it was comfortable with analyst estimates for the remainder of the year, which currently call for $1.37 a share for the year.
In a press release, company CEO Doug Daft said the second-quarter results were "satisfactory, especially in light of the current economic climate."
Shares of Coke closed at $50.37 Tuesday before the news.