The world's largest soft-drink maker, Coca-Cola (NYSE: KO), also is a Dow component. Like so many of the companies in the Dow, Coca-Cola has managed to beat its bottom-line earnings number. Profits for the recent quarter came in at 92 cents per share, topping analysts' forecast of 89 cents per share.
When it came to top-line revenues, Coca-Cola was flat. Operating revenue fell 9% to $8.27 billion, missing the consensus expectation of $8.57 billion. But the reason for the drag was due to the strong dollar.
Without the currency impact, operating income increased 4% in the quarter compared with the second quarter 2008. What's more, the company reported a 4% increase in case volume delivery, driven largely by increased sales in India and China.
Coca-Cola continues to increase market share, and it is arguably the most recognizable brand in the world.
I rate Coca-Cola a C, or hold.
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