Coca-Cola (KO, Financials), the world's largest beverage business, published quarterly results that above Wall Street projections and upped its full-year earnings guidance as demand remained strong in key areas.
The company said results were boosted by greater sales and a worldwide marketing effort associated with the World Cup. Shares were up more than 3 percent in early trading after the report.
North American volume was up 3%, as consumer spending was squeezed by the higher fuel prices. The finding implies Coca-Cola is still ahead of some of its rivals in one of its main regions.
Beverage makers are trying to match pricing with tighter household budgets, and the company's capacity to sustain volume growth has emerged as a significant priority for investors. Better demand can help safeguard margins at the same time as lowering reliance on further price rises.
The more optimistic prognosis also reflects increased confidence in Coca-Cola's potential to keep growing earnings for the rest of the year.
Investors will now be watching to see if the North American momentum continues, the impact of pricing on volumes and whether the company can stick with its higher earnings estimate.