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.
-
Business6 days ago
Langdock raises $3M with General Catalyst to help businesses avoid vendor lock-in with LLMs
-
Entertainment5 days ago
What Robert Durst did: Everything to know ahead of ‘The Jinx: Part 2’
-
Entertainment5 days ago
This nova is on the verge of exploding. You could see it any day now.
-
Business5 days ago
India’s election overshadowed by the rise of online misinformation
-
Business4 days ago
This camera trades pictures for AI poetry
-
Business5 days ago
CesiumAstro claims former exec spilled trade secrets to upstart competitor AnySignal
-
Business7 days ago
Screen Skinz raises $1.5 million seed to create custom screen protectors
-
Entertainment7 days ago
Dating culture has become selfish. How do we fix it?