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Coca-Cola shares rise after company posts second quarter results

Coca-Cola has posted its second quarter financial report, showing a profit that managed to beat t...
Newstalk
Newstalk

15.48 22 Jul 2015


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Coca-Cola shares rise after co...

Coca-Cola shares rise after company posts second quarter results

Newstalk
Newstalk

15.48 22 Jul 2015


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Coca-Cola has posted its second quarter financial report, showing a profit that managed to beat the estimates of financial analysts.

Excluding some items, the company posted earnings of $0.63 a share. Its reported net revenue declined by 3%, while organic revenue grew by 4%.

The world's largest soft drinks manufacturer says its flagship brand grew by 1% in the quarter, while its Coke Zero brand grew by 6%. The company also enjoyed growth in Sprite (3%) and Fanta (2%). However there was a 7% decline in Diet Coke.

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Coca-Cola says that it expects 'fluctuations in foreign currency exchange' to have an unfavourable impact on its results this year, but their currency neutral growth expectations are unchanged.

Bloomberg reports that the company's shares rose by 0.7% in New York following the publication of the results.

Muhtar Kent, chairman and CEO of the Coca-Cola Company said, "our second quarter results were in line with our expectations and mark continued progress toward restoring momentum in our global business.

"While there is more work to do, we remain confident that we have the right plans in place and are committed to leveraging our superior brand portfolio together with our unparalleled global distribution system to continue creating long-term shareowner value," he added.

You can read the company's full results here.


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