Coca-Cola hits record high after raising annual forecasts

PepsiCo

28/07/2026 15:10

Updates
** Shares of beverage giant Coca-Cola KO.N rise as much as 7% to a record high of $89.94
** If gains hold, stock on track for best day since February 2009
** Co raises annual sales, profit forecasts, sees annual revenue at the higher end of previous expectations, betting on strong demand, after Q2 results beat on World Cup-fueled sales
** KO sees comparable earnings per share growth of 9% to 10%, compared with its earlier target of 8% to 9% growth
** Expects annual organic revenue growth of about 5%, compared with its prior target of 4% to 5% growth
** Co posts Q2 revenue of $13.7 billion, beating estimates of $13.16 billion, while adj. EPS of 97 cents beat expectations of 93 cents, according to data compiled by LSEG
** Shares of rival PepsiCo PEP.O also up ~4% 
** Up to last close, KO rose around 20% YTD, PEP fell 2.6% 
     

(Reporting by Shania S Thomas and Neil J Kanatt in Bengaluru)
((shanias.thomas@thomsonreuters.com;))