Procter & Gamble 4Q Profit Rises 15% On Price Hikes, Currency Fluctuations
DOW JONES NEWSWIRES
Procter & Gamble Co.'s (PG) fiscal fourth-quarter earnings rose 15% as price hikes and currency fluctuations boosted the consumer-products giant's sales and volume increased across its business segments and geographic markets.
Shares were down 25 cents at $59.33 in premarket trading as the company gave fiscal first-quarter earnings estimates that fell short of analysts' views. The stock through Thursday's close is down 7.4% this year.
For current quarter, the company projected per-share earnings of $1 to $1.04 on net sales growth of 6% to 9%. Analysts polled by Thomson Reuters recently expected profit of $1.14 and revenue growth of 7% to $21.57 billion. For the new fiscal year, the company projected per-share earnings of $4.17 to $4.33 on net sales growth of 5% to 9%, in line with estimates of analysts polled by Thomson Reuters of $4.26 and revenue growth of 6% to $87.08 billion.
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