April 28 (Reuters) – Coca-Cola raised its annual adjusted profit forecast on Tuesday, betting on steady demand for its pricier beverages and sodas in key markets such as the United States.
The beverages giant’s shares rose about 2% in premarket trading as it also topped quarterly revenue expectations and stuck to its organic revenue growth target for 2026.
Coca-Cola has invested heavily in brands such as Fairlife milk and bottled teas as well as zero sugar and low sugar drinks as consumers move toward healthier alternatives.
It has also offered smaller pack sizes to more cost-conscious households as higher cost of living force consumers to temper spending.
Earlier this month, rival PepsiCo topped quarterly expectations, helped by resilient demand for diet sodas as well as its move to cut prices on some key snack brands such as Lay’s.
The company expects annual comparable earnings per share to grow 8% to 9%, compared with a prior view of 7% to 8% rise.
The company reported first-quarter revenue of $12.47 billion, compared with estimates of $12.24 billion, according to data compiled by LSEG.
(Reporting by Juveria Tabassum in Bengaluru and Alexander Marrow in London; Editing by Arun Koyyur)
