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News Summary: Coca-Cola's profit climbs

The Associated Press

BOTTOM LINE: The Coca-Cola Co. said Tuesday that its profit rose 13 percent in the fourth quarter as growth in emerging markets offset a decline in Europe and a modest performance in North America.

MIXED RESULTS: Global sales volume rose 3 percent, helped by gains in countries such as Russia and Turkey. In Europe, volume fell 5 percent. In China, it fell 4 percent. North America saw volume increase 1 percent, fueled by its Powerade sports drink and bottled teas. Soda volume fell 2 percent.

LOOKING AHEAD: The company said it expects to meet its long-term target of adjusted operating income growth of 6 percent to 8 percent.