NEW YORK – Coca-Cola is facing a tough time: people are drinking less soda in the U.S. and Europe and uncertain economic conditions around the world are weighing on the world's biggest beverage maker.

The Atlanta-based company said Tuesday that its profit rose in the fourth quarter, as it benefited from growth in emerging markets and a shift in the calendar that resulted in two extra selling days for the period. But sales volume fell in China and Europe, reflecting a pullback in consumer spending.

In North America, its biggest market by revenue, volume rose just 1 percent, boosted by its Powerade sports drinks and bottled teas. The company sold 2 percent less soda.