Coca-Cola raises annual sales forecast on global demand, higher prices

(Reuters) -Coca-Cola raised its annual organic sales forecast on Tuesday after beating first-quarter revenue and profit expectations as customers shell out more money for the company's pricey sodas and juices globally.

The company is seeing demand in the U.S. surge mainly in the away-from-home category as consumers venturing out for movies and dining are willing to spend on its higher-priced sodas and juices.

Both Coca-Cola and PepsiCo are also enjoying buoyant demand for their products in international markets such as Europe and Asia where relaunches of Georgia Coffee, Sprite reformulations and a foray into newer markets have helped bump up sales.

Coca-Cola's organic revenue in Europe, Middle East and Africa rose 15% in the first quarter, while in North America it increased 7%.

The company's average selling prices rose 13%, the company said, while unit case volumes were up only 1%.