P&G Profit, Sales Beat Wall Street Estimates
Procter & Gamble Co, maker of Tide detergent and Pampers diapers, on Friday reported better-than-expected quarterly sales and profit and raised its fiscal 2017 forecast for organic sales growth.
Cincinnati, Ohio-based P&G said its core earnings per share, which excludes restructuring charges and other items, was $1.08, in the second quarter ended December 31.
Analysts expected a profit of $1.06 per share, according to Thomson Reuters.
Net sales of $16.85 billion came in ahead of Wall Street estimates of $16.77 billion.
The company raised its organic sales growth forecast to a range of two to three per cent, from about two per cent for fiscal year 2017.
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