Coca-Cola Reports Q2 2025 Revenue of $12.54 Billion, Net Income of $3.81 Billion

The Coca-Cola Company reported its financial results for the second quarter of 2025, revealing a net operating revenue of $12.54 billion, a slight increase from $12.36 billion in the same period last year. For the first half of 2025, revenues remained stable at $23.66 billion, compared to $23.66 billion in the first half of 2024. The company’s gross profit for the quarter was $7.82 billion, yielding a gross profit margin of 62.4%, up from 61.1% a year earlier. Consolidated net income attributable to shareowners was $3.81 billion, or $0.88 per diluted share, compared to $2.41 billion, or $0.56 per diluted share, in the prior year.

The company experienced significant operational changes, including a reduction in other operating charges to $71 million in the second quarter, down from $1.37 billion in the same quarter of 2024. This decrease was primarily due to the absence of large impairment charges that impacted the previous year’s results. Additionally, Coca-Cola refranchised its bottling operations in certain territories in India, which contributed to a net gain of $102 million. The company also recorded a $31 million impairment charge related to a trademark in Latin America during the quarter.

Coca-Cola's unit case volume saw a decline of 1% in the second quarter, with notable decreases in North America and Asia Pacific, while Europe, Middle East, and Africa reported a 3% increase. The company’s concentrate sales volume mirrored this trend, also decreasing by 1%. The company attributed these changes to various factors, including pricing strategies, foreign currency fluctuations, and the impact of refranchising operations. The company’s average shares outstanding remained stable at approximately 4.3 billion.

Looking ahead, Coca-Cola anticipates continued challenges from foreign currency exchange rate fluctuations, which are expected to negatively impact operating income for the remainder of 2025. The company is also navigating ongoing litigation with the IRS regarding tax assessments for prior years, which could have significant financial implications. Despite these challenges, Coca-Cola maintains a strong liquidity position, with cash and cash equivalents totaling $9.59 billion as of June 27, 2025, and plans to invest in growth opportunities while managing its capital allocation effectively.