Coca-Cola is beloved by Warren Buffett, but right now there's another soda company that's probably more appealing for investors.

Cola said on Wednesday it expects annual organic sales at high-end of its previous range after posting a surprise quarterly rise on growing demand for its sodas and juices in the U.S., India and South Korea.

Key Takeaways Coca-Cola reported a drop in unit case volumes, offsetting better-than-anticipated adjusted profit and sales figures.Concentrate shipments declined by 2% year-over-year because of a timing of shipments.

Coca-Cola reported solid organic growth despite currency challenges, closing the third quarter on a positive note.

The soft-drinks maker easily beats quarterly estimates for earnings and sales but notes some headwinds in its guidance.

Coca-Cola posted earnings and revenue that topped expectations. Higher prices helped to offset sluggish demand for beverages. Coca-Cola on Wednesday reported quarterly earnings and revenue that topped analysts' expectations.

Investors looking at these two beverage giants should probably err on the side of value, which means that No. 2 is No. 1 right now.