In the second quarter of the year the net profit of Coca-Cola it fell to $2,68 billion (59 cents a share). The Atlanta giant, which is paying for the general economic crisis that has reduced consumption, had closed the same period of 2012 with earnings of 2,79 billion dollars (61 cents per share).
Excluding extraordinary items, earnings amounted to 63 cents per share, a level actually indicated by analysts, who however were aiming for a turnover of 12,95 billion dollars. As for turnover, it recorded a contraction of 3%, to 12,75 billion dollars.
Muhtar Kent, chairman and chief executive officer of Coca Cola, said the results were "below expectations" and reflected "a problematic global economic environment and unusually adverse weather conditions". The stock drops more than 3 percentage points in the pre-market.
Coca Cola announced a 4% decline in sales in Europe, but "depressed" economic growth in Asia and Latin America also weighed on global results. While Coca Cola's global sales volume still rose 1%, the brand also suffered in North America in the second quarter, with volumes down 1%.
