The Coca-Cola Company (NYSE:KO) released the results from its second quarter, posting adjusted earnings of 64 cents per share on $12.57 billion in revenue, a 1% decline year over year. Analysts had been expecting the company to report earnings of 63 cents per share on $12.83 billion in revenue. Reported earnings per share were 58 cents. In the same quarter a year ago, the soda maker reported earnings per share of 59 cents.
Breaking down Coca-Cola’s earnings
The company reported 3% worldwide volume growth in the quarter and a 2% increase in volume growth for its sparkling beverages. Branded Coca-Cola beverages rose 1%, in both North America and globally. Coca-Cola also reported value share gains in nonalcoholic ready-to-drink beverages.
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Global price per mix rose 2%, while reported net revenues fell 1% for the quarter and 3% so far this year. Excluding impacts from structural changes and exchange rates, net revenues rose 3% in the quarter and so far this year. Reported operating income fell 2% in the quarter and so far this year. Excluding structural change impacts, operating income rose 5% in the quarter and 6% year to date.