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Coca-Cola's profit dips amid weak volume growth

Tom Pennington/Getty Images

NEW YORK Coca-Cola (KO) says it profit dipped in the latest quarter, as the world's largest beverage maker blamed bad weather and challenging economic conditions for weak volume growth.

Coca-Cola's shares fell nearly 3 percent in premarket trading.

The Atlanta-based company, which makes Sprite, Powerade and Dasani, says global volume rose 1 percent in the period. But in its flagship North American market, volume declined 1 percent, including a 4 percent drop in sodas.

For the second quarter, Coca-Cola Co. says it earned $2.68 billion, or 59 cents per share. That's down from $2.79 billion, or 61 cents per share, a year earlier.

Excluding one-time items, the company said it earned 63 cents per share, in line with Wall Street expectations.

Revenue fell to $12.75 billion, short of the $12.95 billion analysts expected.