CINCINNATI (AP) _ Procter & Gamble Co. (PG) on Tuesday reported fiscal first-quarter net income of $3.59 billion.
On a per-share basis, the Cincinnati-based company said it had profit of $1.36. Earnings, adjusted for restructuring costs, came to $1.37 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The world’s largest consumer products maker posted revenue of $17.8 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $17.47 billion.
P&G shares have climbed 30% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has risen 36% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PG at https://www.zacks.com/ap/PG
The Associated Press