The maker of Pampers diapers and Tide detergent earned $3.02 billion, or $1.03 per share, in the first quarter ended on September 30, compared with $3.08 billion, or $1.03 per share, a year earlier. It had fewer shares outstanding in the most recent quarter.
Sales rose 8.9 percent to $21.92 billion.
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Analysts on average were looking for a profit of $1.03 per share on $21.53 billion in sales, according to Thomson Reuters I/B/E/S. P&G had forecast earnings of $1.00 to $1.04 per share.
The company said it still expected full-year earnings of $4.17 to $4.33 per share.
(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)