Finance
Procter & Gamble earnings beat, reaffirms forecast
Procter & Gamble shares surged ahead of Friday’s opening bell after the company delivered strong first-quarter results and reaffirmed its forecast for fiscal-year 2019.
The consumper-products giant posted core earnings-per-share of $1.12, outpacing the $1.08 that analysts surveyed by Bloomberg were expecting.
Net revenue came in at $16.7 billion — in-line with a year ago — but that was good enough to top the $16.46 billion that analysts were hoping for. Organic sales jumped 4%, led by a 7% gain in its beatuy segement. The company said sales took a 3% hit due to the stronger US dollar.
“We generated strong consumption, organic volume and organic sales in the first quarter,” said David Taylor, chairman, president and CEO. “This keeps us on track to deliver our top- and bottom-line targets for the fiscal year. Our focus on superiority, productivity and improving P&G’s organization and culture is driving improved results.”
P&G reaffirmed its forecast for organic sales growth of between 2% and 3% for fiscal 2019, and said it still expects core earnings-per-share growth of 3% to 8% versus its fiscal 2018 core EPS of $4.22.
-
Business7 days ago
TikTok faces a ban in the US, Tesla profits drop and healthcare data leaks
-
Business6 days ago
London’s first defense tech hackathon brings Ukraine war closer to the city’s startups
-
Entertainment6 days ago
Mark Zuckerberg has found a new sense of style. Why?
-
Business6 days ago
Humanoid robots are learning to fall well
-
Entertainment5 days ago
2024 summer TV preview: 33 TV shows to watch this summer
-
Business5 days ago
Google Gemini: Everything you need to know about the new generative AI platform
-
Entertainment4 days ago
‘Bridgerton’: Everything you need to remember before Season 3
-
Business5 days ago
Indian ride-hailing giant Ola cuts 180 jobs in profitability push