Coca-Cola(US:KO) 3 6 Ke·2025-10-22 02:44Core Viewpoint - Coca-Cola reported a strong Q3 2025 performance, with total revenue of $12.46 billion, a year-on-year increase of 5.1%, slightly exceeding market expectations [2][6][14] Revenue Performance - The company achieved organic revenue growth of 6%, marking a recovery from previous negative growth, driven by the introduction of smaller, lower-priced packaging and eco-friendly options [2][14] - Concentrate sales remained flat year-on-year, while prices increased by 6%, highlighting the importance of high-priced products in the company's growth strategy [2][28] Regional Performance - The Asia-Pacific region showed significant growth, with a 7% increase in revenue, primarily due to enhanced freezer placements in China [3][18] - North America generated $5.25 billion in revenue, a 4% increase, with strong performance in water and sports drinks, despite a weaker carbonated beverage market [17] - EMEA region revenue grew by 10% to $3 billion, benefiting from tourism and outdoor consumption [17] - Latin America faced challenges with a 4% decline in revenue, impacted by macroeconomic factors [17] Product Category Insights - Sugar-free cola experienced a remarkable 14% growth, continuing a trend of double-digit increases for five consecutive quarters, significantly outpacing classic cola [3][22] - Health-related products, including ready-to-drink tea and sports drinks, performed well, exceeding industry averages [3][22] Profitability Metrics - Gross margin improved by 0.8 percentage points to 61.5%, supported by lower raw material costs and an enhanced product mix [4][32] - Operating efficiency was boosted by AI applications across various processes, leading to a slight decrease in overall expense ratio to 29% [4][32] Future Guidance - The company expects to achieve organic growth of 5%-6% for the full year 2025, consistent with previous forecasts [5]