The Coca-Cola Company has raised its full-year guidance after reporting strong second-quarter results, driven by higher sales volumes, revenue growth and continued demand for its core brands across global markets.
The drinks giant reported a 5 per cent increase in global unit case volume for the second quarter, while net revenues rose 7 per cent to $13.4 billion (£10.08bn). Organic revenues increased 6 per cent and operating income climbed 9 per cent, with earnings per share up 16 per cent to $1.03.
Henrique Braun, chief executive of The Coca-Cola Company, said: “We delivered another strong quarter by staying close to the changing needs of our consumers and customers.
“While we continue to see a dynamic consumer landscape, we leveraged our powerful brands and system to gain value share, delivering revenue, profit and earnings growth while also investing for the long term.”
For the first six months of 2026, Coca-Cola reported net revenues of $25.9 billion, up 9 per cent year on year, while operating income increased 14 per cent and earnings per share rose 17 per cent to $1.94.
Following the stronger-than-expected performance, Coca-Cola upgraded its full-year outlook. The company now expects organic revenue growth of around 5 per cent, up from its previous guidance of 4-5 per cent, while comparable earnings per share are forecast to increase by 9-10 per cent, compared with earlier expectations of 8-9 per cent.
Coca-Cola volumes grew 5 per cent during the quarter, while Coca-Cola Zero Sugar continued its strong momentum with 16 per cent volume growth. Diet Coke/Coca-Cola Light volumes increased 7 per cent, sports drinks grew 5 per cent and water volumes rose 6 per cent. Tea also recorded 6 per cent growth, although coffee volumes declined by 2 per cent.
Overall sparkling soft drinks volumes increased 4 per cent, contributing to Coca-Cola gaining value share in the total non-alcoholic ready-to-drink beverage category.
Regionally, Europe, the Middle East and Africa recorded 4 per cent unit case volume growth, while North America grew 3 per cent and Asia Pacific led with an 8 per cent increase.
The company attributed part of its performance to its global FIFA World Cup 2026 campaign, which reached consumers across more than 180 markets. Coca-Cola said the campaign helped deliver 5 per cent volume growth for Coca-Cola and 8 per cent growth for Powerade during the quarter through large-scale retail activations, digital marketing and connected packaging initiatives.
Coca-Cola also highlighted innovation as a key growth driver, with new products and formats contributing to overall volume growth. The company said it is establishing innovation hubs across its operating units to accelerate the rollout of successful products between markets. Recent examples include the expansion of Coca-Cola Zero into Asia Pacific and Latin America, Sprite+Tea in China and the launch of BODYARMOR FIT, a sparkling sports drink combining electrolytes with caffeine and zero sugar.