P&G tops Street 2Q forecasts

MarketsAssociated Press

Procter & Gamble Co. (PG) on Tuesday reported fiscal second-quarter net income of $2.5 billion.

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The Cincinnati-based company said it had profit of 93 cents per share. Earnings, adjusted for pretax expenses and restructuring costs, were $1.19 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The world's largest consumer products maker posted revenue of $17.4 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $17.34 billion.

P&G shares have risen slightly since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. The stock has increased 5 percent in the last 12 months.


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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