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Coke (KO) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Coca-Cola (KO - Free Report) reported revenue of $11.97 billion, up 5.7% over the same period last year. EPS came in at $0.78, compared to $0.70 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $11.73 billion, representing a surprise of +2.03%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $0.72.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Coke performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Operating Revenues- Europe, Middle East & Africa: $2.19 billion versus the four-analyst average estimate of $2.19 billion. The reported number represents a year-over-year change of +0.2%.
Net Operating Revenue- Latin America- Total: $1.38 billion versus the four-analyst average estimate of $1.24 billion. The reported number represents a year-over-year change of +20.9%.
Net Operating Revenue- North America- Total: $4.37 billion versus the four-analyst average estimate of $4.29 billion. The reported number represents a year-over-year change of +8.4%.
Net Operating Revenue- Asia Pacific- Total: $1.57 billion versus the four-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of +0.1%.
Net Operating Revenue- Bottling investments- Total: $2.04 billion versus the four-analyst average estimate of $1.99 billion. The reported number represents a year-over-year change of -1.8%.
Net Operating Revenue- Global Ventures: $765 million versus the four-analyst average estimate of $682.60 million. The reported number represents a year-over-year change of +10.1%.
Net Operating Revenue- Corporate- Total: $30 million versus the three-analyst average estimate of $23.82 million. The reported number represents a year-over-year change of +30.4%.
Net Operating Revenues- Intersegment: -$365 million versus -$353.20 million estimated by three analysts on average.
Operating Income- Global Venture- Non-GAAP: $78 million compared to the $45.21 million average estimate based on three analysts.
Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.13 billion versus the three-analyst average estimate of $1.22 billion.
Operating Income- Bottling Investments- Non-GAAP: $129 million compared to the $106.64 million average estimate based on three analysts.
Operating Income- Corporate- Non-GAAP: -$330 million versus -$409.60 million estimated by three analysts on average.
Shares of Coke have returned +1.9% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Coke (KO) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Coca-Cola (KO - Free Report) reported revenue of $11.97 billion, up 5.7% over the same period last year. EPS came in at $0.78, compared to $0.70 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $11.73 billion, representing a surprise of +2.03%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $0.72.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Coke performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Operating Revenues- Europe, Middle East & Africa: $2.19 billion versus the four-analyst average estimate of $2.19 billion. The reported number represents a year-over-year change of +0.2%.
- Net Operating Revenue- Latin America- Total: $1.38 billion versus the four-analyst average estimate of $1.24 billion. The reported number represents a year-over-year change of +20.9%.
- Net Operating Revenue- North America- Total: $4.37 billion versus the four-analyst average estimate of $4.29 billion. The reported number represents a year-over-year change of +8.4%.
- Net Operating Revenue- Asia Pacific- Total: $1.57 billion versus the four-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of +0.1%.
- Net Operating Revenue- Bottling investments- Total: $2.04 billion versus the four-analyst average estimate of $1.99 billion. The reported number represents a year-over-year change of -1.8%.
- Net Operating Revenue- Global Ventures: $765 million versus the four-analyst average estimate of $682.60 million. The reported number represents a year-over-year change of +10.1%.
- Net Operating Revenue- Corporate- Total: $30 million versus the three-analyst average estimate of $23.82 million. The reported number represents a year-over-year change of +30.4%.
- Net Operating Revenues- Intersegment: -$365 million versus -$353.20 million estimated by three analysts on average.
- Operating Income- Global Venture- Non-GAAP: $78 million compared to the $45.21 million average estimate based on three analysts.
- Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.13 billion versus the three-analyst average estimate of $1.22 billion.
- Operating Income- Bottling Investments- Non-GAAP: $129 million compared to the $106.64 million average estimate based on three analysts.
- Operating Income- Corporate- Non-GAAP: -$330 million versus -$409.60 million estimated by three analysts on average.
View all Key Company Metrics for Coke here>>>Shares of Coke have returned +1.9% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.