|
In the U.S., for example, Coca-Cola estimates that the per capita
consumption of its drinks on average is more than one 8-ounce
serving per day. By contrast, consumers in India drink an average of
just 12 servings over the span of an entire year. As a result, Coca-Cola is racing to establish an early dominance in foreign markets that could help determine its growth trajectory in the years to come. Last month, the company said it would accelerate its investment in India to $5 billion over the next eight years. That's more than double the $2 billion it invested since re-entering the country in 1993. When taking into account all the drinks it offers locally, Coca-Cola now has a stable of more than 500 drinks. Looking forward, Coca-Cola now expects full-year costs for ingredients to be closer to $300 million, down from the $350-$450 million it previously forecast. But the company also warned that unfavorable foreign exchange rates could hurt operating income in the current third quarter. For the three months ended June 29, Coca-Cola said it earned $2.79 billion, or $1.21 per share. That's down from $2.8 billion, or $1.20 per share, in the year-ago period, when there were more outstanding shares. Not including one-time items, the company said it earned $1.22 per share, beating Wall Street expectations of $1.19 per share. Revenue rose 3 percent to $13.09 billion, which also topped analysts' average expectations of $12.89 billion, according to FactSet. Shares of Coca-Cola gained $1.21 to close at $77.69 Tuesday, after rising as high as $78.66 earlier in the session. That approached the high end of their 52-week range of $63.34 to $79.36. Earlier this month, Coca-Cola shareholders approved a 2-for-1 stock split, the company's first in 16 years.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor