American multinational beverage giant – The Coca-Cola Co. has seen a sharp growth in the second quarter of this year. As per the statement released by the company, its revenue grew by 12% and touched a whopping $11.3 billion mark. Much above the forecast figure of $10.56 billion. Increase in beverage rates and growing demands from across the regions and markets are considered as the main reasons behind this phenomenal growth.

Further, it registered 4% expansion in concentrate sales, 15% rise in Coffee sales, along with an impressive increase of 8% in Coca-Cola’s unit case volume. Seeing the impressive results despite economic turmoil across the continents, the company has raised its organic revenue growth expectations to 12-13%.

The stock market also cheered these phenomenal results. Coca-Cola shares were marked 1.16% higher in pre-market trading immediately following the earnings released by the company to indicate an opening bell price of $62.91 each.

“Our results this quarter reflect the agility of our business, the strength of our streamlined portfolio of brands, and the actions we’ve taken to execute for growth in the face of challenges in the operating and macroeconomic environment,” Chairman and CEO James Quincey said.