CINCINNATI – CINCINNATI (AP) _ Procter & Gamble Co. (PG) on Tuesday reported fiscal first-quarter earnings of $2.71 billion.
On a per-share basis, the Cincinnati-based company said it had profit of 96 cents. Earnings, adjusted to account for discontinued operations and restructuring costs, were $1.03 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The world’s largest consumer products maker posted revenue of $16.52 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $16.45 billion.
P&G shares have climbed nearly 6 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 5 per cent. The stock has climbed 12 per cent 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 http://www.zacks.com/ap/PG
_____
Keywords: Procter & Gamble, Earnings Report, Priority Earnings
