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Coca-Cola (KO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Coca-Cola (KO - Free Report) reported revenue of $12.36 billion, up 3.3% over the same period last year. EPS came in at $0.84, compared to $0.78 in the year-ago quarter.
The reported revenue represents a surprise of +3.86% over the Zacks Consensus Estimate of $11.9 billion. With the consensus EPS estimate being $0.80, the EPS surprise was +5.00%.
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 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- Global Ventures: $768 million compared to the $785.63 million average estimate based on four analysts. The reported number represents a change of +0.4% year over year.
Net Operating Revenue- North America: $4.81 billion compared to the $4.55 billion average estimate based on four analysts. The reported number represents a change of +10.2% year over year.
Net Operating Revenue- Latin America: $1.65 billion compared to the $1.50 billion average estimate based on four analysts. The reported number represents a change of +19.7% year over year.
Net Operating Revenue- Asia Pacific: $1.51 billion versus the four-analyst average estimate of $1.56 billion. The reported number represents a year-over-year change of -3.5%.
Net Operating Revenues- Europe, Middle East & Africa: $2.34 billion compared to the $2.20 billion average estimate based on four analysts. The reported number represents a change of +6.9% year over year.
Net Operating Revenue- Bottling investments- Total: $1.54 billion versus the four-analyst average estimate of $1.68 billion. The reported number represents a year-over-year change of -24.6%.
Net Operating Revenue- Corporate- Total: $30 million versus $29.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Net Operating Revenues- Intersegment: -$287 million compared to the -$307.57 million average estimate based on three analysts. The reported number represents a change of -21.4% year over year.
Operating Income- Global Venture- Non-GAAP: $92 million compared to the $71.31 million average estimate based on three analysts.
Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.25 billion compared to the $1.21 billion average estimate based on three analysts.
Operating Income- Bottling Investments- Non-GAAP: $100 million versus $102.96 million estimated by three analysts on average.
Operating Income- Corporate- Non-GAAP: -$298 million versus -$347.44 million estimated by three analysts on average.
Shares of Coca-Cola have returned +1.3% over the past month versus the Zacks S&P 500 composite's +2% 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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Coca-Cola (KO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Coca-Cola (KO - Free Report) reported revenue of $12.36 billion, up 3.3% over the same period last year. EPS came in at $0.84, compared to $0.78 in the year-ago quarter.
The reported revenue represents a surprise of +3.86% over the Zacks Consensus Estimate of $11.9 billion. With the consensus EPS estimate being $0.80, the EPS surprise was +5.00%.
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 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- Global Ventures: $768 million compared to the $785.63 million average estimate based on four analysts. The reported number represents a change of +0.4% year over year.
- Net Operating Revenue- North America: $4.81 billion compared to the $4.55 billion average estimate based on four analysts. The reported number represents a change of +10.2% year over year.
- Net Operating Revenue- Latin America: $1.65 billion compared to the $1.50 billion average estimate based on four analysts. The reported number represents a change of +19.7% year over year.
- Net Operating Revenue- Asia Pacific: $1.51 billion versus the four-analyst average estimate of $1.56 billion. The reported number represents a year-over-year change of -3.5%.
- Net Operating Revenues- Europe, Middle East & Africa: $2.34 billion compared to the $2.20 billion average estimate based on four analysts. The reported number represents a change of +6.9% year over year.
- Net Operating Revenue- Bottling investments- Total: $1.54 billion versus the four-analyst average estimate of $1.68 billion. The reported number represents a year-over-year change of -24.6%.
- Net Operating Revenue- Corporate- Total: $30 million versus $29.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
- Net Operating Revenues- Intersegment: -$287 million compared to the -$307.57 million average estimate based on three analysts. The reported number represents a change of -21.4% year over year.
- Operating Income- Global Venture- Non-GAAP: $92 million compared to the $71.31 million average estimate based on three analysts.
- Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.25 billion compared to the $1.21 billion average estimate based on three analysts.
- Operating Income- Bottling Investments- Non-GAAP: $100 million versus $102.96 million estimated by three analysts on average.
- Operating Income- Corporate- Non-GAAP: -$298 million versus -$347.44 million estimated by three analysts on average.
View all Key Company Metrics for Coca-Cola here>>>Shares of Coca-Cola have returned +1.3% over the past month versus the Zacks S&P 500 composite's +2% 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.