"Unusually poor weather" drives down Coca Cola's profits

Coca Cola’s profits in the second quarter fell amid ongoing economic problems and unusually poor weather, the drinks company reported today.

Net income was down four per cent to $2.68bn, or 59 cents per share, while revenue fell three per cent to $12.75bn.

But comparable earnings per share including a “two per cent currency headwind”, it reports, were up four per cent to 63 cents.

Chief executive Muhtar Kent said:

Our second quarter volume results came in below our expectations, reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter.