- Retail Earnings in Focus Ahead of Shopping Season
- Apple Surpasses Nokia as Top Handset Maker by Profit
- In This Relay-Race Market, Who Gets Baton Next?
- Workers Staying Put at Their Jobs as Jobless Surges
- Three Things the US Can Do To Stop the Dollar's Decline
- Toll Brothers: More Contracts Signed, but Sales Down
- Ponzi Proceeds: Bidding on Madoff's Toys
- Bear Stearn Fund Managers Not Guilty on All Counts
- Commodity ETFs: Returns May Not Match Expectations
- Beware of 'Trampling Effect' When Market Tops: Manager
- Gold Heading to $1150: Art Hogan
- Starbucks Brews Up Growth
- Farr: An Extended Period—No Fat Lady in Sight
- More Upside if S&P Passes This Number: Market Pro
- Murdoch Lashes Out At Google
- Fighting The Flu Vaccine Critics
- Nov. 10: Unusual Volume Leaders
- Shadow Inventory Dwarfs Loan Mods
- Chemical BPA in workers linked to sex problems
- Best Buy leaps into fitness equipment
- 5 pct. of Americans plan to buy a home next year
- Blackouts darken Brazil's 2 largest cities
- Geithner encouraged by Japan's focus on domestic
- Appeals panel: No landfill near SoCal nat'l park
- GM chairman says co. is committed to repaying aid
- Report: Blackwater OK'd $1M plan to pay off Iraqis
- UT board: Depleted uranium disposal needs scrutiny
Text Size 
CHICAGO (Reuters) - Procter & Gamble Co <PG.N> posted a quarterly profit well ahead of analysts' forecasts and said it has modestly higher expectations for growth in the industry even as consumers continue to remain cautious.
P&G's pantry of products have been pressured for months, as shoppers try cheaper brands than Pampers and Tide, and eschew indulgences such as Hugo Boss cologne and SK-II face cream.
The world's largest household products maker earned $3.31 billion, or $1.06 per share, in the fiscal first quarter that ended on September 30, compared with a profit of $3.35 billion, or $1.03 per share, a year earlier.
Analysts, on average, expected P&G to earn 99 cents per share, according to Thomson Reuters I/B/E/S.
Net sales fell 6 percent to $19.8 billion, with declines in every category ranging from beauty to snacks and pet care.
Organic sales, which exclude the impact of currency fluctuations, acquisitions and divestitures, rose 2 percent. P&G had predicted such sales would be flat to down 3 percent.
(Reporting by Jessica Wohl, editing by Maureen Bavdek)
Print
Email
- Vote and suggest your own, and remember--there's a fine line between a hero and a zero.
- If you are lucky enough to have money and the time, this is a great time to see America, says CNBC's Jane Wells.
- What’s powering your microwave, fridge and computer? Part of it is fuel from Russian nuclear weapons. The NYT reports.
- One author sees lessons for you in Disney’s recent Makeover of Mickey Mouse: “Nice” doesn’t always win.
- With 123 years of history, slogans and commercials, Coca-Cola is the most recognized brand on earth.
- The opening of a virtual pet store in “World of Warcraft” could prove a cash bonanza for Activision-Blizzard.
Data is a real-time snapshot *Data is delayed at least 15 minutes