Profit topped forecasts but Coca-Cola’s stock fell slightly after the company said it expected foreign currency exchange rates to hurt its results in the third quarter, as they did in the first.
Coca-Cola said it earned $2.04 billion, or 88 cents a share, up from $1.42 billion, or 61 cents a share, a year earlier, when it posted a big one-time charge. Sales in the period, which ended July 3, fell 9 percent, to $8.27 billion, from $9.05 billion.
International sales are helping carry the company and are setting it up for long-term growth, said Jack Russo, an industry analyst at Edward Jones.
International sales volume rose 5 percent in the quarter, with gains of 10 percent or more in China and India, while domestic sales volume fell 1 percent, reflecting the trend of North American consumers cutting back on their spending.
Shares of Coca-Cola, which is based in Atlanta, fell 68 cents, to $50.35 a share.
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