July 28 (Reuters) - Coca-Cola on Tuesday raised its annual forecasts after it beat second-quarter estimates, driven by robust U.S. demand for its zero-sugar drinks and fairlife milk brand, as well as sales tied to the FIFA World Cup.
Increased consumption during the 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.
Coca-Cola is FIFA's long-standing official beverage sponsor, and the company said its campaign for the World Cup 2026 contributed to volume growth in its trademark Coca‑Cola and energy drink Powerade during the quarter ended July 3.
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, and have outperformed rival PepsiCo, which has suffered from weak snacking demand in the United States in recent quarters.
Raising prices on some products and offering smaller pack sizes for its sodas for more cost-conscious consumers gave an additional boost to Coca-Cola's sales.
The company has also invested in other beverages in its portfolio, including ready-to-drink teas as well as milk products 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)
