Coca-Cola Raises Outlook as Organic Revenue Beats Estimates.

Coca-Cola Co. has raised its outlook for 2024 after reporting better-than-expected first-quarter results. Organic revenue, which excludes currency shifts and acquisitions, increased by 11% in the quarter, surpassing analysts' estimates. The company now expects organic revenue to grow by as much as 9% for the full year, higher than the previous range of 6% to 7% and above the average estimate. However, unit case volume fell short of expectations, with declines in water, sports drinks, coffee, and tea. Coca-Cola also raised its prices by 13% in the quarter, more than what the market anticipated. PepsiCo Inc. also reported strong sales growth recently. [Extracted from the article]