Coca Cola has blamed bad weather – including flooding in parts of Europe – for disappointing results in the second quarter of the year.
The world’s biggest drinks maker earned $2.68 billion between April and June; 4% lower than the amount earned in the same period of 2012.
In an interview with CNBC, the company’s chief financial officer Gary Fayard pointed to an unusually wet spring in the United States and heavy rain in Europe for the results.
"I hate to use the weather, but a lot of it was the weather," he said. "We are an industry that's susceptible to weather.”
Sales at companies like Coca Cola have also come under pressure in developed markets in recent years as criticism of high-calorie products grows.
To combat this the firm has recently started an advertising campaign that focuses on the calories contained in its products, while also putting more emphasis on its uncarbonated products like sports drinks and water.
Meanwhile Coca Cola has also trialled versions of its Fanta and Sprite brands that feature natural sweetener stevia, which is lower in calories than regular sugar.
