Procter & Gamble's reports mixed 4Q results

Dow component Procter & Gamble reported an adjusted 4Q profit of $0.94 per share, topping the estimate for $0.90. Revenue for the company came in at $16.5 billion, just shy of the $16.54 billion estimate.

The sales miss is due to revenue falling short at the unit that makes Gillette razors and shaving products.

Organic sales grew 1-percent in the quarter.

P&G expects to pay over $7 billion in dividends and repurchase up to $5 billion in shares for fiscal 2019.

The consumer products company reported a profit of $2.22 billion in the year ago quarter, with earnings per share of $0.82.

Last quarter, the owner of brands like Gillette razors and Pampers diapers announced soft pricing and sales trends that offset almost all of the benefits from management's aggressive cost-cutting initiatives.

Shares were down more than 2 percent in the premarket.