Procter and Gamble reports $2.75B for fiscal 3Q, surpasses forecast
In this June 15, 2018, file photo a variety of Procter & Gamble products rest on a counter in East Derry, N.H. Procter & Gamble Co. reports financial results Wednesday, Jan. 23, 2019. (AP Photo/Charles Krupa, File)
The Associated Press
Published Tuesday, April 23, 2019 8:50AM EDT
CINCINNATI -- Procter & Gamble Co. (PG) on Tuesday reported fiscal third-quarter net income of $2.75 billion.
On a per-share basis, the Cincinnati-based company said it had profit of $1.04. Earnings, adjusted for restructuring costs, were $1.06 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The world's largest consumer products maker posted revenue of $16.46 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $16.41 billion.
P&G shares have increased 15 per cent since the beginning of the year, while the Standard & Poor's 500 index has risen 16 per cent. The stock has increased 42 per cent in the last 12 months.