P&G tops 3Q profit forecasts

Markets Associated Press

Procter & Gamble Co. (PG) on Wednesday reported fiscal third-quarter net income of $2.52 billion.

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On a per-share basis, the Cincinnati-based company said it had profit of 93 cents. Earnings, adjusted for non-recurring costs, were 96 cents per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The world's largest consumer products maker posted revenue of $15.61 billion in the period, falling short of Street forecasts. Nine analysts surveyed by Zacks expected $15.71 billion.

P&G shares have climbed 7 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 7 percent. The stock has increased 11 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on PG at https://www.zacks.com/ap/PG

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Keywords: Procter & Gamble, Earnings Report, Priority Earnings