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Still, the company's second quarter profit slipped as costs for ingredients rose as well. The Atlanta based company was also up against a tough comparison, as the previous year's results were boosted by a one time net gain related to the merger of two of the company's bottlers.
But the company also warned that unfavorable foreign exchange rates could hurt operating income in the current third quarter.
In its flagship North America market, Coca Cola said sales volume rose 1 percent, while a mix of higher prices and smaller bottles and cans lifted revenue by Nike Foamposite Blue And Black
Given the challenges in developed markets, Coca Cola is increasingly pinning its fortunes on emerging markets where the ranks of middle class consumers are multiplying at Nike Air Mag Elite Black a rapid clip. By contrast, consumers in India drink an average of just 12 servings over the span of an entire year.
but costs eat into profit
Looking forward, Coca Cola now expects full year costs for ingredients to be closer to $300 million, down from the $350 $450 million it previously forecast.
Volume for its sparkling beverages or sodas such as Coke and Sprite fell 2 percent.
Shares of Coca Cola rose 42 cents to $76.90 in late morning trading after rising as high as $78.66 earlier in the session. That approached the high end of their 52 week range of $63.34 to $79.36.
Still, Coca Cola is looking beyond its fizzy sodas for growth. Sales volume for its still beverages, such as Powerade and zero calorie Vitamiwater, rose 8 percent in the quarter. Juice brands rose 3 percent, driven by lower calorie Minute Maid offerings.
"There are better ways to address concerns about obesity," he said.
NEW YORK (AP) The Coca Cola Co. is selling more of its sodas, sports drinks and bottled waters in most parts of the world, with growth particularly strong in emerging markets.
As a result, Coca Cola is racing to establish an early dominance in foreign markets that could help determine its growth trajectory in the years to come. Last month, the company said it would accelerate its investment in India to $5 billion over the next eight years. That's more than double the $2 billion it invested since re Nike Foamposite Triple Black
Revenue rose 3 percent to $13.09 billion, which also topped analysts' average expectations of $12.89 billion, according to FactSet.
Not including one time items, the company said it earned $1.22 per share, beating Wall Street expectations of $1.19 per share.
said Tuesday that its sales volume rose 4 percent globally in the second quarter.
The world's biggest beverage maker which makes Minute Maid, Powerade and Dasani Nike Dunk Jedi
In Europe, Coca Cola said volume fell 4 percent. The company blamed economic uncertainty and bad weather in several regions for the drop.
When taking into account all the drinks it offers locally, Coca Cola now has a stable of more than 500 drinks.
As for Mayor Michael Bloomberg's recent proposal to ban the sale of supersized sugary drinks in New York City, Kent did not say whether he thinks the broader sentiment targeting colas for obesity will impact the business over the long term North America. But he said that singling out sodas for blame doesn't make sense.
entering the country in 1993.
"Don't forget that we're cycling in epic headwinds in commodity costs," Kent said.
For the three months ended June 29, Coca Cola said it earned $2.79 billion, or $1.21 per share. That's down from $2.8 billion, or $1.20 per share, in the year ago period, when there were more outstanding shares.
Growth at home has been difficult at a time when consumers are losing their taste for sugary sodas and have a variety of alternatives, such as sports drinks and bottled teas. can nevertheless grow once the company eases its pricing.
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