In the interim, earnings had faltered, the Securities and Exchange Commission launched an accounting probe and the company made several changes in top management.

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Analysts had expected earnings per share of 50 cents per share, and management blamed 6 cents per share in restructuring charges accounting for part of the miss.

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"Our management's determination to change to the preferred method of accounting for employee stock options ensures that our earnings will more clearly reflect economic reality when all compensation costs are recorded in the financial statements, " said Coca-Cola Chairman and Chief Executive Douglas Daft in a statement.

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