Coca-Cola Q2 results: Net income jumps 58% to $3.8 billion; higher prices offset weaker global volumes
Revenue for the quarter rose 1% to $12.5 billion, while adjusted revenue stood at $12.6 billion—in line with Wall Street estimates, according to FactSet. Adjusted earnings per share came in at 87 cents, topping analysts' forecast of 83 cents.
The company said global pricing increased by 6% during the second quarter, helping counter declines in overall volumes. In North America, volumes fell 1%, mirroring the global trend.
Among product segments, Coca-Cola Zero Sugar emerged as a bright spot, with volumes rising 14%, even as total Coca-Cola volumes declined. The flagship brand still far outsells its zero-sugar variant, but demand for sugar-free options is rising rapidly.
The company, however, did not confirm a claim made by President Donald Trump last week on social media that Coca-Cola would switch to real cane sugar in its US drinks instead of high-fructose corn syrup.
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Coke only said that new offerings were in the pipeline.
In other categories, juice, dairy and plant-based beverages saw volumes drop 4%, while sports drink volumes declined 3%, with gains in North America offset by losses in Latin America.
Coca-Cola said it now expects full-year adjusted earnings growth of 8%. Earlier this year, the company had projected 8–10% growth, but lowered that to 7–9% in April. In 2024, Coca-Cola earned $2.88 per share.
Coca-Cola shares edged slightly lower in early Tuesday trading, along with broader declines across US markets.
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