Coke sales fall, but earnings beat estimates

The Coca-Cola Co. reported a drop in sales in the second quarter mostly due to an impact from foreign currency fluctuation and structural changes the business is undergoing.

Sales decreased 5 percent to $11.5 billion from $12.2 billion a year earlier. Analysts predicted revenue of $11.6 billion.

Earnings were $3.5 billion, up 11 percent compared with $3.1 billion a year earlier. Earnings per share were 79 cents, or 60 cents adjusted for one-time costs. Analysts expected Coke to earn 58 cents a share.

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