- Coca-Cola's second quarter earnings were down 4% at $2.68 billion (59 cents a share), which was also lower than its second quarter earnings last year, which hit $2.79 billion (61 cents a share).
- Declining soft-drink consumption in the U.S., issues abroad and weather are being blamed as culprits.
- "Our second quarter volume results came in below our expectations, reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter," said Chairman and Chief Executive Muhtar Kent.
From the article:
... The world's largest beverage company has seen its results challenged by Americans reducing their soft-drink consumption, rising costs for raw materials and pockets of economic uncertainty, such as Europe and China. ...