Coca-Cola, the world's most famous beverages company has recently announced a significant increase in its annual organic sales forecast.
As per Reuters, this increase reflects robust worldwide demand for its premium sodas and juices.
While, this announcement lifted the company's shares by 2% in early trading.
The beverage giant notes a surge in demand within the United state, especially in out-of-home settings like movie theaters and restaurants, where people are willing to spend more on its higher-priced beverages.
However, both Coca-Cola and PepsiCo are experiencing strong demand internationally, particularly in Europe and Asia.
Relaunches of Georgia Coffee, Sprite variations, and expansions into new markets have contributed to sales growth.
Additionally, in the first quarter, Coca-Cola saw a 15% increase in organic revenue in Europe, the Middle East, and Africa, and a 7% rise in North America.
While the company's average selling price jumped by 13%, unit case volumes saw a more modest 1% increase.
Meanwhile, Coca-Cola anticipates organic sales to grow by 8% to 9% in fiscal year 2024, compared to its earlier forecast of 6% to 7%.
On an adjusted basis, the company earned 72 cents per share, compared with expectations of 70 cents.
