Procter & Gamble’s Earnings Beat As Higher Pricing Offsets Drop in Volume
Tiger Newspress2022-10-19
Procter & Gamble on Wednesday reported quarterly earnings and revenue that topped analysts’ estimates as higher pricing offset lower demand for its products.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.57 vs. $1.54 expected
- Revenue: $20.61 billion vs. $20.28 billion expected
P&G reported fiscal first-quarter net income of $3.94 billion, or $1.57 per share, down from $4.11 billion, or $1.61 per share, a year earlier.
Net sales rose 1% to $20.61 billion, topping expectations of $20.28 billion.
P&G shares gained 1.78% after posting financial results.
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