CINCINNATI (AP) — CINCINNATI (AP) — Procter & Gamble Co. (PG) on Friday reported fiscal first-quarter net income of $3.96 billion.
On a per-share basis, the Cincinnati-based company said it had net income of $1.61. Earnings, adjusted for restructuring costs, came to $1.93 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The world’s largest consumer products maker posted revenue of $21.74 billion in the period, falling short of Street forecasts. Ten analysts surveyed by Zacks expected $21.93 billion.
P&G expects full-year earnings in the range of $6.91 to $7.05 per share.
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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
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