Coca-Cola hits all-time high on nearly 7% surge

Coca-Cola stock soared to a record high on Tuesday, jumping nearly 7%, after the beverage giant delivered stronger-than-expected second-quarter results, AzerNEWS reports.

The Atlanta-based company reported net revenue of $13.4 billion, an annual increase of 7%. Net income attributable to shareholders and diluted earnings per share climbed both 16% to $4.4 billion and $1.03, respectively. Operating income came in at $4.6 billion, up 9% from the same quarter last year.

According to data from Baha Wealth, Coca-Cola shares have been on a remarkable run, climbing 8.64% over the past month, 22.87% over the past six months, and an impressive 31.84% over the last year. The stock had already gained 2.24% in premarket today before extending gains after the opening bell to hit an all-time peak. Coca-Cola's shares surged by 6.84% to $89.74 apiece at 9:57 am ET.