Coca-Cola beats on earnings

The company posted adjusted earnings per share of $0.63, and revenues of $12.16 billion. Analysts expected earnings per share of $0.60 and revenues of $12.07 billion according to Bloomberg.

Unit case volumes rose 5%, beating estimates.

Coke zero volumes grew 6%, Coke grew 1%, Sprite grew 3%, and Fanta grew 2%.

In the earnings statement, CEO Muhtar Kent said: "Our second quarter results were in line with our expectations and mark continued progress toward restoring momentum in our global business. We are executing against our strategic initiatives and remain focused on driving efficiencies through productivity and making disciplined investment decisions to accelerate growth."

Shares rose about 1% in premarket trading.