NEW YORK (Bloomberg) — Coca-Cola Co., the world's largest soft-drink maker, reported second-quarter profit that beat analysts' estimates as case volume climbed and expenses fell.

Net income rose to $2.04 billion, or 88 cents a share, from $1.42 billion, or 61 cents, a year earlier, the Atlanta-based company said yesterday in a Business Wire statement. Excluding some items, Coca-Cola earned 92 cents a share, compared with the 89-cent average of nine estimates compiled by Bloomberg.

Selling, general and administrative expenses fell 8 percent in the quarter. Worldwide unit case volume increased 4 percent, the company said.

Coca-Cola fell 1.6 percent, to $50.20 by 12.41 p.m. yesterday in New York Stock Exchange composite trading. The shares have climbed 13 percent this year, compared with a 2.4 percent gain for PepsiCo Inc., the second-biggest soda-maker.

Revenue slid 8.6 percent to $8.27 billion from $9.05 billion. Analysts, on average, predicted $8.46 billion. The stronger dollar hurt operating income in the quarter by 14 percent, compared with the 14 percent to 16 percent Coca-Cola predicted in April.