P&G: Fiscal 3Q Earnings Snapshot

CINCINNATI (AP) — Procter & Gamble Co. (PG) on Thursday reported fiscal third-quarter profit of $2.51 billion.

On a per-share basis, the Cincinnati-based company said it had net income of 95 cents. Earnings, adjusted for restructuring costs and pretax expenses, were $1 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The world’s largest consumer products maker posted revenue of $16.28 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $16.19 billion.

P&G shares have fallen 15 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 1 per cent. The stock has declined 14 per cent in the last 12 months.

———-

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PG at https://www.zacks.com/ap/PG