Reuters

(Reuters)

Procter & Gamble's 4Q Results Beat Estimates

Industries Reuters

Procter & Gamble, the maker of Tide detergent and Gillette shaving products, reported better-than-expected quarterly sales, helped by strong demand for its baby, feminine and home care products.

Continue Reading Below

The net income attributable to the company rose to $1.95 billion, or 69 cents per share, in the fourth quarter ended June 30, from $521 million, or 18 cents per share, a year earlier.

The year-ago profit had been hurt by a charge from deconsolidating its Venezuela business.

Net sales fell 2.7 percent to $16.1 billion, down for the eighth straight quarter, but beat the average analyst estimate of $15.83 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)