Procter & Gamble 2Q Sales, Earnings Top Estimates
January 20 2021 - 7:30AM
Dow Jones News
By Colin Kellaher
Procter & Gamble Co. on Wednesday posted fiscal
second-quarter sales and earnings that topped expectations,
bolstered by surging demand amid the coronavirus pandemic.
The Cincinnati consumer-products giant reported net income of
$3.85 billion, or $1.47 a share, for the quarter ended Dec. 31, up
from $3.72 billion, or $1.41 a share, a year earlier.
On an adjusted basis, P&G reported a profit of $1.64 a share
for the quarter. Analysts polled by FactSet, on average, were
expecting adjusted earnings of $1.51.
Sales rose 8% to $19.745 billion, topping the $19.3 billion Wall
Street was expecting. Organic sales, which exclude the impacts of
foreign exchange, acquisitions and divestitures, also rose 8%,
P&G said.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 20, 2021 07:15 ET (12:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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