Coca-Cola (KO) shares surged 5.71% during intraday trading on Tuesday, as investors cheered the beverage giant's stronger-than-expected second-quarter results and an upgraded outlook for the full year. The stock rallied sharply following the release of quarterly earnings that topped Wall Street forecasts across key metrics, signaling resilient consumer demand for the company's portfolio of beverages.

The Atlanta-based company reported adjusted earnings of $0.97 per share, surpassing the consensus estimate of $0.93, while revenue climbed 7% year-over-year to $13.4 billion, exceeding the projected $13.16 billion. Global unit case volume grew 5%, driven by robust performance in India, China, the U.S., and Brazil. The results were further bolstered by the FIFA World Cup 2026, where Coca-Cola's marketing campaigns and hydration breaks boosted sales of its Powerade and trademark Coca-Cola brands.

In a move that amplified investor optimism, Coca-Cola raised its full-year 2026 outlook. The company now expects organic revenue growth of approximately 5%, tightening the prior range of 4% to 5%, and lifted its comparable earnings per share growth forecast to 9%-10% from the previous 8%-9%. The improved guidance reflects confidence in sustained volume momentum, strategic pricing actions, and a favorable product mix, despite higher aluminum and PET costs noted by the CFO.