The Coca-Cola Company stock research
FY2023 Q1
The Coca-Cola (KO) Gross Margin — Quarter Ended Mar 31, 2023
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue decreased, resulting in a higher gross margin. Compared to the same quarter last year, revenue and gross profit were higher, but cost of revenue also increased, leading to a slightly lower gross margin.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue decreased, resulting in a higher gross margin. Compared to the same quarter last year, revenue and gross profit were higher, but cost of revenue also increased, leading to a slightly lower gross margin.
- The gross margin improved sequentially as revenue grew faster than cost of revenue. The year-over-year comparison shows a slight weakening, with cost of revenue increasing at a pace that outpaced revenue growth.
- Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin was slightly lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.7%
Gross profit
$6.7B
Revenue
$11.0B
Cost of revenue
$4.3B
Quarter-over-quarter change
n/a
Year-over-year change
-0.3 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $11.0B | $6.7B | $4.3B | 60.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Apr 1, 2022
-0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially as revenue grew faster than cost of revenue. The year-over-year comparison shows a slight weakening, with cost of revenue increasing at a pace that outpaced revenue growth.
Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin was slightly lower.
Monitor the trajectory of cost of revenue relative to revenue, as its year-over-year increase narrowed the gross margin.