Coca-Cola revenues miss estimates as North America growth stalls

|About: The Coca-Cola Company (KO)|By:, SA News Editor

Coca-Cola (KO -2.6%) opens sharply lower after Q2 revenues fell Y/Y and finished below expectations as North America sales declined for the second straight quarter.

Q2 global unit case volume grew 3% Y/Y but was flat in North America, despite increased marketing around the World Cup and the launch of the "Share a Coke" campaign; J.P. Morgan analysts had expected volumes to gain 1%-2% in North America, which accounted for 45% of total Q2 revenue.

On the bright side, gross margin widened to 61.7% as input costs declined 3.4% from a year earlier.

KO also says adjusted earnings would be hurt by $0.02 in H2 due to the restructuring of its juice operations in Russia and the separation of its Brazilian bottling operations last year.