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Coke's Earnings Call Is a Sweet Surprise for Investors

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The Coca-Cola Company reported its second quarter earnings per share this morning, with numbers surpassing analysts' predictions.

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MINYANVILLE ORIGINAL The Coca-Cola Company (KO) reported its second quarter earnings per share before market open this morning. The Coca-Cola Company produces not only Coke products, but also popular brands such as Sprite, Vitaminwater, and Dasani.

Analysts from Thomson Financial had estimated an average Q2 earnings of $1.19 per share, full-year $4.07, with high estimates of Q2 $1.21 and FY $4.28 and low estimates of Q2 $1.16 and FY $3.99.

The company surpassed these predictions, however, with an adjusted EPS of $1.22 and a three percentage increase in revenue to $13.09 billion. This revenue increase also exceeded analysts' predictions of $12.98 billion. Shares were up 1.8% as well.

Success in emerging markets has cushioned the company from the effects of the European economic slowdown, with a 5% rise in second-quarter international sales volume (4% overall). While sales volume fell by 4% in Europe, it leapt 12% in Africa and Eurasia, 8% in the Pacific, and 3% in Latin America. Coke does business in more than 200 countries.

However, Coke CFO Gary Fayard was cautious in his predictions for the year end, stating that currency fluctuations and changing buyer patterns would lead to smaller full-year gross margins than those experienced this quarter.
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