Why Coca-Cola's Stock Is Trading Higher Today

Coca-Cola Co (NYSE: KO) is trading higher Wednesday morning after the company announced better-than-expected financial results. 

Coca-Cola reported second-quarter earnings of 68 cents per share, which beat the estimate of 55 cents per share. The company reported quarterly revenue of $10.1 billion, which beat the estimate of $9.25 billion. Coca-Cola said it expects full year 2021 organic revenue growth of 12% to 14%.

“Our results in the second quarter show how our business is rebounding faster than the overall economic recovery, led by our accelerated transformation. As a result, we are encouraged and, despite the asynchronous nature of the recovery, we are raising our full year guidance,” said James Quincey, chairman and CEO of Coca‑Cola.

Coca-Cola is the largest nonalcoholic beverage company in the world.

Price Action: Coca-Cola is making a new 52-week high in premarket trading today.

At last check Wednesday, the stock was up 1.59% at $56.72.