Coca-Cola's limited edition flavors of its sodas and price hikes powered a surprise rise in quarterly revenue amid sluggish demand in the packaged foods industry, sending its shares up about 3%.

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The company called out its namesake Coca-Cola brand, protein shake, and ultra-filtered milk brand Fairlife, and limited time offerings such as Sprite winter spiced cranberry for the solid performance.

Quincey said limited-time offerings like Sprite Winter Spiced Cranberry, Fanta Beetlejuice and Oreo-flavored Coke helped drive sales in the fourth quarter, and more innovation is coming this year.