Coca-Cola, the world's largest non-alcoholic soft drink maker, today reported better-than-expected results for the previous quarter and raised its full-year outlook. During the previous trading session, its shares went up: Coca-Cola 65.56 (1.22%) .
During the second quarter of this year, this company's revenue reached 12.363 billion. dollars, or three percent more than a year ago during the same period. The market expected revenue to average 11.76 billion. dollars. Soft drink sales rose two percent in volume terms due to growth in overseas markets, while they fell in the home market of North America.
Coca-Cola's operating profit during the mentioned period grew by ten percent to 2.632 billion. dollars, while net fell five percent to $2.401 billion. dollars or up to 56 cents per share.
Adjusted earnings per share for the quarter, meanwhile, came in at 84 cents, beating analysts' average estimates by three cents.
The mentioned soft drink manufacturer's first half revenue amounted to 23.663 billion. dollars, operating profit – 4.773 billion dollars, and the net amounted to 5.586 billion. dollars. Compared to the same period a year ago, revenue rose three percent, operating profit shrank seventeen percent, and net profit shrank one percent.
After evaluating the performance of the first half of the year, Coca-Cola's management decided to improve the annual performance forecasts. The revenue growth forecast has been raised from 8 – 9 to 9 – 10 percent, and adjusted earnings per share – from 4 – 5 to 5 – 6 percent.
Since the beginning of this year, the market value of the mentioned company has increased by more than eight percent, and in the last one year – by about four percent. In comparison, PepsiCo's share price fell by three percent and over twelve percent, respectively.
