Coca-Cola lifts annual forecasts as price hikes fail to dampen soda demand

Coca-Cola raised its annual sales and profit forecasts on Tuesday, as a round of price increases failed to deter consumers mainly in international markets from spending more on the beverage giant's sodas, energy drinks and juices.

Shares of Coca-Cola rose nearly 1% in premarket trading as the company also posted a surprise increase in second-quarter revenue.