BUZZ-Coca-Cola up after raising annual forecasts
KO•Higher full-year growth targets
Coca-Cola now sees comparable earnings per share growth of 9% to 10%, compared with its earlier target of 8% to 9% growth.
It also expects annual organic revenue growth of about 5%, compared with its prior target of 4% to 5% growth.
Shares rise after Coke lifts outlook
Shares of beverage giant Coca-Cola KO.N were up about 2% at $85.82.
The company raised its annual sales and profit forecasts and said it now sees annual revenue at the higher end of previous expectations, betting on strong demand after second-quarter results beat estimates on World Cup-fueled sales.
Second-quarter results topped estimates
The company posted second-quarter revenue of $13.7 billion, beating estimates of $13.16 billion, while adjusted EPS of 97 cents beat expectations of 93 cents, according to data compiled by LSEG.
Shares of rival PepsiCo PEP.O were also up about 1% premarket.
Up to the last close, KO had risen around 20% year to date, while PEP had fallen 2.6%.
