Coca-Cola Surpasses Earnings Expectations, Raises Full-Year Outlook

Coca-Cola has raised its full-year outlook after reporting better-than-expected earnings and revenue for the second quarter. The beverage giant's net income rose to $2.55 billion, or 59 cents per share, compared to $1.91 billion, or 44 cents per share, a year earlier. The company's organic revenue increased by 11% in the quarter, driven by higher prices. Following PepsiCo's lead, Coca-Cola also provided a more optimistic outlook for the rest of the year, with an expected growth in earnings per share of 5% to 6% and an increase in organic revenue of 8% to 9%. The company's pricing strategy, which includes price hikes, has not yet resulted in significant customer backlash.