Q2 25 EPS
$0.87
BEAT +3.91%
Est. $0.84
Q2 25 Revenue
$12.54B
MISS 0.15%
Est. $12.55B
vs S&P Since Q2 25
0.0%
TRAILING MARKET
KO +14.6% vs S&P +14.6%
Market Reaction
Did KO Beat Earnings? Q2 2025 Results
Coca-Cola delivered a largely solid second quarter, with comparable EPS of $0.87 clearing the $0.84 consensus estimate by 3.91%, even as reported revenue of $12.54 billion came in fractionally light of the $12.55 billion analysts had expected, a miss… Read more Coca-Cola delivered a largely solid second quarter, with comparable EPS of $0.87 clearing the $0.84 consensus estimate by 3.91%, even as reported revenue of $12.54 billion came in fractionally light of the $12.55 billion analysts had expected, a miss of just 0.15% on 1.4% year-over-year top-line growth. The real engine behind the quarter was margin expansion: comparable operating margin widened to 34.7% from 32.8% a year ago, driven by cost discipline and the timing of marketing spend, helping offset a 1% decline in global unit case volume that was concentrated in Mexico, India, and Thailand. Organic revenue growth of 5% was powered almost entirely by price/mix improvement, a dynamic that has become a recurring theme for the beverage giant navigating an uneven global consumer environment. Looking ahead, Coca-Cola maintained its 5% to 6% organic revenue growth target and now expects comparable EPS growth of approximately 3% for full-year 2025, with currency headwinds projected at roughly 5%.
Key Takeaways
- • 6% price/mix growth driven by pricing actions and favorable mix
- • Coca-Cola Zero Sugar grew 14% in volume for the fourth consecutive quarter of double-digit growth
- • Diet Coke achieved fourth consecutive quarter of volume growth in North America
- • Global relaunch of 'Share a Coke' campaign across 120+ countries with 10 billion bottles and cans
- • Comparable currency neutral operating income grew 15% driven by organic revenue growth, timing of marketing investments and effective cost management
- • Gained value share in total NARTD beverages
- • Revenue growth management strategy adding 130+ million transactions year-to-date in juice drinks category
KO YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
KO Revenue by Segment
With YoY comparisons, source: SEC Filings
KO Revenue by Geography
With YoY comparisons, source: SEC Filings
“Amid a shifting external landscape in the second quarter, the ability of our system to stay both focused and flexible enabled us to stay on course in the first half of the year.”
— James Quincey, Q2 2025 Earnings Press Release
KO Earnings Trends
KO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KO EPS Trend
Earnings per share: estimate vs actual
KO Revenue Trend
Quarterly revenue: estimate vs actual
KO Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.86 | — | $12.47B | +1.97% |
| Q4 25 BEAT FY | $0.56 | $0.58 | +3.57% | $11.82B | — |
| FY Full Year | $2.99 | $3.00 | +0.35% | $47.94B | -0.68% |
| Q3 25 BEAT | $0.78 | $0.82 | +5.25% | $12.46B | +0.35% |
| Q2 25 BEAT | $0.84 | $0.87 | +3.91% | $12.54B | -0.15% |
| Q1 25 BEAT | $0.72 | $0.73 | +1.94% | $11.13B | -0.37% |