Coke’s successful quarter was driven by higher prices and a recovery in China.

The corporation reported Monday that revenue increased 5% to $11 billion for the January-March period. This exceeded Wall Street’s predictions. FactSet’s survey of analysts predicted $10.8 billion in sales.
James Quincey, chairman and CEO of Coke, noted that this year’s robust new year celebrations in China and higher restaurant demand stood in stark contrast to previous year, when a new coronavirus type dampened demand.But higher prices also helped to increase sales. While concentrate sales increased 1%, pricing and mix, which includes changes in package sizes, contributed 11% to its revenue growth. The price and mix increased by 12% each of the three preceding quarters.