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Coca-Cola (KO) Reports Q3 Earnings: What Key Metrics Have to Say

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For the quarter ended September 2025, Coca-Cola (KO - Free Report) reported revenue of $12.41 billion, up 4.7% over the same period last year. EPS came in at $0.82, compared to $0.77 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $12.43 billion, representing a surprise of -0.16%. The company delivered an EPS surprise of +5.13%, with the consensus EPS estimate being $0.78.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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 Revenues- North America: $5.25 billion versus the five-analyst average estimate of $5.2 billion. The reported number represents a year-over-year change of +5.4%.
  • Net Operating Revenues- Latin America: $1.57 billion versus $1.72 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4% change.
  • Net Operating Revenues- Asia Pacific: $1.51 billion compared to the $1.42 billion average estimate based on five analysts. The reported number represents a change of +11.6% year over year.
  • Net Operating Revenues- Bottling investments: $1.35 billion compared to the $1.33 billion average estimate based on five analysts. The reported number represents a change of +2.3% year over year.
  • Net Operating Revenues- Europe, Middle East & Africa: $3 billion versus the five-analyst average estimate of $2.79 billion. The reported number represents a year-over-year change of +48.4%.
  • Net Operating Revenues- Eliminations: $-253 million versus the four-analyst average estimate of $-49.43 million. The reported number represents a year-over-year change of +0.4%.
  • Net Operating Revenues- Corporate: $34 million versus the three-analyst average estimate of $27.14 million. The reported number represents a year-over-year change of +88.9%.
  • Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.08 billion versus the four-analyst average estimate of $1.11 billion.
  • Operating Income- Bottling Investments- Non-GAAP: $58 million compared to the $65.77 million average estimate based on four analysts.
  • Operating Income- Corporate- Non-GAAP: $-213 million compared to the $-359.06 million average estimate based on four analysts.
  • Operating income- North America- Non-GAAP: $1.64 billion versus $1.5 billion estimated by four analysts on average.
  • Operating Income- Asia Pacific- Non-GAAP: $504 million compared to the $519.69 million average estimate based on four analysts.

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

Shares of Coca-Cola have returned +3.4% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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