Explore the latest developments concerning Procter & Gamble.
Procter & Gamble beats earnings estimates but reveals waning demand in some categories
Procter & Gamble on Friday reported fiscal first-quarter earnings and revenue that beat analysts' expectations, lifted by higher demand for its beauty and grooming products.
Despite higher costs from tariffs and what CEO Jon Moeller called a "challenging consumer and geopolitical environment," P&G reiterated its forecast for all-in sales and earnings for the fiscal year, which began in July.
Here's what the company reported for the quarter ended Sept. 30 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
P&G reported fiscal first-quarter net income attributable to the company of $4.75 billion, or $1.95 per share, up from $3.96 billion, or $1.61 per share, a year earlier.
Procter & Gamble tops estimates on resilient demand for beauty, hair-care products
(Reuters) -Procter & Gamble (PG) on Friday beat Wall Street estimates for first-quarter revenue and profit, helped by strong demand for its beauty and hair-care products amid higher prices and a broader slowdown in spending due to economic uncertainties.
The Tide maker, a bellwether for the global consumer goods industry, reduced its annual tariff cost estimate to about $400 million after tax, from about the $800 million forecast in July, largely on Canada lifting retaliatory tariffs on U.S. goods.
However, U.S. President Donald Trump on Thursday terminated all trade talks with Canada. The Canadian government had no immediate comment.
The company's shares were up about 3% in premarket trading. They have fallen about 9% so far this year.
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