Originally published at www.seclive.com
The Coca-Cola Company (NYSE:KO) announced its financial results for second quarter, reporting earnings in-line with expectations, though CEO Muhtar Kent remarked that the results came in below the company's expectations as a result of a challenging macroeconomic environment and adverse weather conditions. Operations in the Philippines were adversely affected with the deconsolidation of its bottling operations, which the company partially attributes to its overall performance. Coke reported net income of $2.68B, or $0.59 earnings per share, a decrease from the same quarter last year of $2.79B and $0.61 earnings per share. Revenue of $12.75B was a 3% decrease from last year this quarter. The company continues to increase its market share in the North America market while it makes strides to improve its performance overseas, particularly in Europe and China.
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