(Reuters) - Beverage maker Keurig Dr Pepper ( KDP ) beat Wall Street expectations for first-quarter sales and profit on Thursday, helped by steady demand for its high-priced sodas and tonic water.

Shares of the Burlington, Massachusetts-based company were up about 3% in premarket trading.

Demand for the company's popular soft drinks like 7UP and Sun Drop citrus soda, and Schweppes tonic water held steady as lower-income consumers stretched their budgets to spend on at-home meals and beverages.

Price increases undertaken over the past quarters have helped beverage makers like Keurig Dr Pepper ( KDP ) shield their margins from rising costs of coffee, a key source of the caffeine in their beverages.

The company's prices were up 3.1%, while volumes were flat in the quarter. Larger peer PepsiCo ( PEP ) reported better-than-expected quarterly results earlier this week, but still saw volumes decline.

Keurig Dr Pepper ( KDP ) posted adjusted profit of 38 cents per share for the quarter ended March 31, marginally above analysts' estimates of 35 cents per share.

The company posted net sales of $3.47 billion, compared to analysts' estimate of $3.41 billion according to LSEG data.

The ready-to-drink tea maker appointed Tim Cofer as CEO, succeeding Bob Gamgort, effective April 26.

Keurig Dr Pepper ( KDP ) also reaffirmed its annual sales and profit forecast.

(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Varun H K)