Coke Q2 Profits Climb Revenues Fall Amid Fizzling Diet Coke Sales

ATLANTA -- Coca-Cola Co.'s profit rose to $3.11 billion, or 71¢ a share, during the quarter ended July 3. Second-quarter revenue fell to $12.16 billion from $12.57 billion.

Sales of Diet Coke slid 7% in the second quarter as people continue to gravitate toward natural sweeteners. Coke volume climbed 1%, Sprite grew 3%, and Fanta increased 2%.

The beverage giant said the volume of mini-cans rose into the double-digits during the quarter. Coke has shifted its focus toward selling smaller cans and bottles in the U.S., which have a higher price per gallon.