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Coca-Cola (KO) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

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Coca-Cola (KO - Free Report) reported $12.54 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 1.4%. EPS of $0.87 for the same period compares to $0.84 a year ago.

The reported revenue represents a surprise of -0.44% over the Zacks Consensus Estimate of $12.59 billion. With the consensus EPS estimate being $0.83, the EPS surprise was +4.82%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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 Coca-Cola performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Net Operating Revenue- North America: $5.03 billion versus the five-analyst average estimate of $5.06 billion. The reported number represents a year-over-year change of +4.5%.
  • Net Operating Revenue- Latin America: $1.59 billion versus the five-analyst average estimate of $1.56 billion. The reported number represents a year-over-year change of -3.8%.
  • Net Operating Revenue- Asia Pacific: $1.57 billion versus $1.54 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4% change.
  • Net Operating Revenue- Bottling investments: $1.41 billion versus $1.58 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -8.3% change.
  • Net Operating Revenues- Europe, Middle East & Africa: $3.18 billion compared to the $2.96 billion average estimate based on five analysts. The reported number represents a change of +35.8% year over year.
  • Net Operating Revenues- Eliminations: $-279 million versus the four-analyst average estimate of $-80.14 million. The reported number represents a year-over-year change of -2.8%.
  • Net Operating Revenue- Corporate: $39 million versus the three-analyst average estimate of $32.23 million. The reported number represents a year-over-year change of +30%.
  • Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.36 billion versus the four-analyst average estimate of $1.34 billion.
  • Operating Income- Bottling Investments- Non-GAAP: $60 million versus the four-analyst average estimate of $111.66 million.
  • Operating Income- Corporate- Non-GAAP: $-289 million versus $-244.64 million estimated by four analysts on average.
  • Operating income- North America- Non-GAAP: $1.58 billion compared to the $1.47 billion average estimate based on four analysts.
  • Operating Income- Asia Pacific- Non-GAAP: $664 million versus the four-analyst average estimate of $667.44 million.

View all Key Company Metrics for Coca-Cola here>>>

Shares of Coca-Cola have returned +0.5% over the past month versus the Zacks S&P 500 composite's +5.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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