April 30 (Reuters) - Coca-Cola raised its annual

organic sales forecast on Tuesday after topping first-quarter

results as customers in the U.S. and international markets shell

out more money for its pricey sodas and juices.

The soda giant 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 Coke sodas and

Minute Maid juices.

Coca-Cola, similar to PepsiCo ( PEP ) which also beat its

first-quarter results, is enjoying buoyant demand in

international markets such as Europe and Latin America where

relaunches of Georgia Coffee and Sprite reformulations have

bumped up sales.

The company's first-quarter organic revenue in Europe,

Middle East and Africa rose 15%, while in North America it

increased 7%.

Overall average selling price rose 13%, while unit case

volumes were up only 1%.

"They are doing good in certain international markets, which

are a little bit more used to the effects of inflation, and

Coca-Cola has frankly a lot of brand power so they are not

seeing that kind of erosion," said Christian Greiner, senior

portfolio manager at F/m Investments, which owns shares of the

beverage giant.

Coca-Cola is also overhauling their existing products and

introducing newer items to spur demand among lower-income

customers.

"U.S. still remains in good shape," CEO James Quincey said

in a post-earnings call, adding there is some purchasing power

compression among lower-income customers.

Coca-Cola expects fiscal 2024 organic sales to grow 8% to

9%, compared with its prior forecast of a 6% to 7% rise.

First-quarter net revenue rose 2.5% to $11.23 billion,

beating LSEG estimates of $11.01 billion. Coca-Cola posted

adjusted profit of 72 cents per share, compared with

expectations of 70 cents.

Coca-Cola maintained its annual comparable earnings per

share forecast of 4% to 5% growth.

"It is encouraging to see the company guide up but on an

underlying dollar basis, it looks like everything is going to

remain the same," Wedbush analyst Gerald Pascarelli said.

The company's shares were down marginally in early trade.