File photo/Zhu Wanping (NBD)

Coca-Cola on Tuesday reported quarterly revenue that beat analysts’ expectations, driven by higher prices for its drinks.

For the fourth quarter of 2022, the net revenues were strong, growing 7% to $10.1 billion, and the operating margin, which included items impacting comparability, was 20.5% versus 17.7% in the prior year, while comparable operating margin (non-GAAP) was 22.7% versus 22.1% in the prior year.

The earnings per share was 45 cents adjusted vs. 45 cents expected.

"While 2022 brought many challenges, we are proud of our overall results in a dynamic operating environment," said James Quincey, Chairman and CEO of The Coca-Cola Company. "As we begin 2023, we continue to invest in our capabilities and strengthen alignment with our bottling partners to maintain flexibility. We are keeping consumers at the center of our innovation and marketing investments, while also leveraging our expertise in revenue growth management and execution. Our growth culture is leading to new approaches, more experimentation, and improved agility to drive growth and value for our stakeholders."

It's noted that Coca-Cola is continuing to invest in the Chinese market. Last year, the company launched more than 20 new products in the Chinese market, covering a variety of categories such as flavored soda, juice, coffee and tea.

It is reported that in the next five years, Coca-Cola will continue to increase its investment in China, and is expected to invest more than 5.5 billion yuan in factory infrastructure.