The isomorphism theorem for linear fragments of continuous logic

The ultraproduct construction is generalized to $p$-ultramean constructions ($1\leqslant p<\infty$) by replacing ultrafilters with finitely additive measures. These constructions correspond to the linear fragments $\mathscr L^p$ of continuous logic. A powermean variant of Keisler-Shelah isomorphism theorem is proved for $\mathscr L^p$. It is then proved that $\mathscr L^p$-sentences (and their approximations) are exactly those sentences of continuous logic which are preserved by such constructions. Some other applications are also given.