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Shares of the world's largest beverage maker, which also cut its
full-year organic revenue growth forecast, were down 2percent at
$44 in premarket trading on Wednesday.
"Strong performance in some of our largest and most developed
markets, including the United States, Mexico and Japan, was
offset by difficult external conditions in many of our emerging
and developing markets, including China and Argentina," Chief
Executive Muhtar Kent said in a statement.
The company said it now expects full-year organic revenue to
grow 3 percent in 2016, down from its previous forecast of 4-5
percent growth.
Revenue from North America, the company's largest market, rose 2
percent, while it fell in all other regions, partly hurt by
inflation.
However, net income attributable to shareholders rose to $3.45
billion, or 79 cents per share, in the second quarter ended July
1 from $3.11 billion, or 71 cents per share, a year earlier.
Excluding items, the company earned 60 cents per share.
The company's net operating revenue fell 5.1 percent to $11.54
billion, the fifth straight quarter of decline.
Analysts on average had expected earnings of 58 cents per share
on revenue of $11.63 billion, according to Thomson Reuters
I/B/E/S.Coca-Cola also said it signed letters of intent with two
U.S. bottlers to expand distribution areas in two states.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Maju
Samuel and Sriraj Kalluvila)
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