Procter and Gamble Co. Crest brand toothpaste is arranged for a photograph taken in Hastings on Hudson, New York, U.S., on Saturday, Oct. 17, 2020.
Tiffany Hagler-Geard | Bloomberg | Getty Images
Procter & Gamble on Tuesday reported its quarterly revenue rose 9% as the coronavirus pandemic continued to lift demand for its cleaning and laundry products.
Shares of the company rose 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
· Earnings per share: $1.63, vs. $1.42 expected
· Revenue: $19.32 billion vs. $18.38 billion expected
The company reported fiscal first-quarter net income of $4.28 billion, or $1.63per share, up from $3.59 billion, or $1.36 per share, a year earlier. Analysts surveyed by Refinitiv were expecting earnings of $1.42 per share.
Net sales rose 9% to $19.32 billion, topping expectations of $18.38 billion.
This story is developing. Please check back for updates.
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