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Coca-Cola Q2 Sales Climb; Price Increases Set For 2nd Half

Posted On: 7/26/2011

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ATLANTA  -- Coca-Cola Co.'s net income rose 18% in the second quarter on greater worldwide sales volume.

Boosted by 6% volume growth, Coca-Cola earned $2.8 billion, or $1.20 a share, for the three months ended July 1, up from $2.37 billion, or $1.02 per share, in the same quarter last year. Revenue climbed 47% to $12.74 billion from $8.67 billion, partly because of the company's acquisition of Coca-Cola Enterprises last year and a cross-branding partnership with Dr Pepper in North America. 

Worldwide sparkling beverage volume grew 5% in the quarter. Coca-Cola-brand beverage volume grew 4% worldwide, led by growth of 24% growth in China and a 17% increase in Russia. Global still-beverage volume, including water, ready-to-drink teas and sports drinks increased by 7%.

Beverage volume was flat in North America, which the company attributed to budget-conscious consumers continuing to cut spending.

Coca-Cola said in late June that it would raise North American drink prices 3% to 4% in the second half of 2011, citing higher ingredient and packaging costs.