Coca-Cola 2Q net income rises on overseas growth

ATLANTA — Coca-Cola Co.'s second-quarter net income rose 18 percent as it sold more drinks around the world and offset higher ingredient costs by raising some prices.

The world's largest beverage maker has seen consistent growth for years because of steady sales in established markets and faster increases in emerging markets.

Coca-Cola's net income rose to $2.8 billion, or $1.20 per share, for the three months ended July 1. That's up from $2.37 billion, or $1.02 per share, in the same quarter last year.

Revenue climbed 47 percent to $12.74 billion from $8.67 billion, partly because of Coke's acquisition of its largest North American bottler.

The results beat the forecasts of analysts polled by FactSet for earnings of $1.15 per share on revenue of $12.39 billion.

Shares of Coca-Cola gained 63 cents to $67.75 before the market opened.

The Atlanta company said Tuesday that it sold 4 percent more of its Coca-Cola brand drinks globally. Coca-Cola has more than 500 brands, including Fanta, Sprite, Dasani and Minute Maid.

Coca-Cola sold 5 percent more carbonated drinks globally, while beverages such as juices, sports drinks, energy drinks, water and tea saw a 7 percent increase.

"Even as consumers around the world continue to feel the impact of a slow economic recovery, they increasingly choose our brands to refresh themselves at a rate of over 1.7 billion servings each and every day," Chairman and CEO Muhtar Kent said in a statement.

The beverage maker saw strength across all of its regions, led by 7 percent volume increases in Eurasia and Africa. North America reported a 4 percent rise.

But the company said some uncertainty remains in Japan following the March earthquake and tsunami. That is likely to decrease its full-year earnings by 3 cents to 5 cents per share.