July 28 (Reuters) - Coca-Cola on Tuesday raised its annual revenue and profit forecasts, betting on strong demand for its zero sugar beverages as well as its fairlife milk brand in the United States.
Increased consumption during the FIFA World Cup added to the momentum for Coca-Cola's trademark beverages and zero sugar sodas that have enjoyed resilient demand despite a broader softening in spending on non-essential items, particularly from lower-income consumers in the United States.
The beverage giant's
second-quarter comparable revenue rose about 6% to $13.37 billion, beating estimates of $13.16 billion, according to data compiled by LSEG.
The company's shares rose 1.8% in premarket trading. They have risen about 20% so far this year.
Raising prices on some products and offering smaller pack sizes for its trademark sodas for more cost-conscious consumers in the United States gave an additional boost to sales figures.
The company has also invested in other beverages in its portfolio, including ready-to-drink teas as well as milk from its fairlife brand, which helped revenues.
It expects 2026 organic revenue growth of about 5%, compared with its prior target of 4% to 5% growth.
Coca-Cola expects comparable earnings per share growth of 9% to 10%, compared with its earlier target of 8% to 9% growth.
(Reporting by Juveria Tabassum in Bengaluru and Alexander Marrow in London; Editing by Shinjini Ganguli)
