Coca-Cola reported Q2 earnings of $0.97 per share which beat the analyst consensus estimate of $0.93 by 4.3 percent. This is a 11.49 percent increase over earnings of $0.87 per share from the same period last year.

The company reported quarterly sales of $13.400 billion which beat the analyst consensus estimate of $13.162 billion by 1.81 percent. This is a 7.20 percent increase over sales of $12.500 billion the same period last year.

Coca-Cola raises annual sales, profit forecasts, sees annual revenue at the higher end of previous expectations, betting on strong demand.

Coca-Cola surged over 7% intraday on Tuesday, hitting a record high.