Filing Flows › Coca Cola (KO) › Q2 2026 › vs Q1 2026
Coca Cola (KO) Q2 2026 vs Q1 2026 (quarter over quarter)
Coca Cola's revenue rose $908M (+7%) from $12.5B in Q1 2026 to $13.4B in Q2 2026. The biggest changes: Concentrate operations +$761M (+10%); Finished product operations +$147M (+3%). Gross margin 62.9% against 63.0% (-0.1 pts).
Coca Cola, Q2 2026: revenue $13.4B (+7% year over year), operating margin 34.9%, net earnings $4.4B, operating cash flow $5.5B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 62.9% | 63.0% | -0.1 pts |
| Operating margin | 34.9% | 35.0% | -0.0 pts |
| Net margin | 33.1% | 31.5% | +1.6 pts |
| Free cash flow margin | 38.1% | 14.1% | +24.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Concentrate operations | $8.1B | $7.4B | $761M | +10% |
| Finished product operations | $5.2B | $5.1B | $147M | +3% |
| Revenue | $13.4B | $12.5B | $908M | +7% |
| Gross profit | $8.4B | $7.9B | $563M | +7% |
| Cost of revenue | $5.0B | $4.6B | $345M | +7% |
| Other income, net | $803M | $252M | $551M | +219% |
| Operating profit | $4.7B | $4.4B | $313M | +7% |
| Operating expenses | $3.7B | $3.5B | $250M | +7% |
| Pre-tax earnings | $5.5B | $4.6B | $864M | +19% |
| SG&A | $3.7B | $3.5B | $248M | +7% |
| Other operating costs | $23.0M | $21.0M | $2.0M | +10% |
| Net earnings | $4.4B | $3.9B | $501M | +13% |
| Minority interests | $13.0M | $42.0M | −$29.0M | -69% |
| Income tax | $1.0B | $645M | $392M | +61% |
| Depreciation & amortization | $266M | $264M | $2.0M | +0.8% |
| Share-based compensation | $61.0M | $56.0M | $5.0M | +9% |
| Working capital & other | $770M | −$2.2B | $3.0B | — |
| Operating cash flow | $5.5B | $2.0B | $3.5B | +173% |
| Free cash flow (OCF − capex) | $5.1B | $1.8B | $3.3B | +191% |
| Capital expenditures | $418M | $266M | $152M | +57% |
Questions
How much did Coca Cola's revenue grow quarter over quarter in Q2 2026?
Coca Cola's revenue rose $908M (+7%) from $12.5B in Q1 2026 to $13.4B in Q2 2026.
What drove Coca Cola's revenue change in Q2 2026?
Concentrate operations +$761M (+10%); Finished product operations +$147M (+3%).