ATLANTA - Coca-Cola (KO) said its profit rose in its second quarter as it cut costs and benefited from a gain related to its purchase of a stake in energy drink maker Monster Beverage.
The Atlanta-based maker of Sprite, Dasani and Powerade also said global beverage volume rose 2 percent in the quarter, with revenue climbing 4 percent when stripping out the impact of structural changes and foreign currency rates.
In North America, the company said core revenue growth of 5 percent was driven by higher pricing and a more favorable mix of products. Its volume of carbonated drinks in the region rose by 1 percent, boosted by its expanded distribution of Monster energy drinks.
For the quarter ended July 3, Coca-Cola Co. said its profit rose to $3.11 billion, or 71 cents per share. Not including one-time items, it said it earned 63 cents per share. Analysts on average expected 60 cents per share, according to Zacks Investment Research.
In the year-ago period, the company earned $2.6 billion, or 58 cents per share.