Coca-Cola Q3 profit jumps 30%, net revenue up 5% to $12.5 bn

The Coca-Cola Company has posted a 30% jump in earnings per share (EPS) and a 59% rise in operating income, driven by price growth and effective cost management despite persistent currency headwinds.

Net revenues for the quarter rose 5% to $12.5 billion, while organic revenues (excluding currency and structural changes) were up 6%, reflecting a 6% increase in price/mix. Unit case volume grew 1%, with gains in Central Asia, North Africa, Brazil, and the U.K.

Operating margin expanded to 32.0%, up sharply from 21.2% a year earlier. Comparable operating margin stood at 31.9%, aided by disciplined spending and strong revenue growth, partly offset by higher marketing investments.

“Our performance this quarter demonstrates the power of our diverse beverage portfolio and the strength of our franchise model,” said James Quincey, Chairman and CEO of The Coca-Cola Company. “We’re adapting to a challenging environment while investing for sustainable growth.”

In Asia Pacific, the company’s volume dipped 1%, but price/mix rose 8%, and operating income gained 13%.

In terms of bottling investments, unit case volume rose 2%, led by Africa and India; operating income grew 32%.

Coca-Cola HBC AG entered a definitive agreement to acquire a controlling stake in Coca-Cola Beverages Africa, while the company sold a 40% ownership stake in Hindustan Coca-Cola Holdings Pvt. Ltd. to the Jubilant Bhartia Group in India.

For 2025, Coca-Cola reaffirmed guidance of 5–6% organic revenue growth and expects comparable EPS growth of about 3%, including a 5% currency headwind. The company raised its free cash flow outlook to at least $9.8 billion, excluding payments related to the fairlife acquisition.