Procter & Gamble reported fourth-quarter earnings that were slightly below estimates, despite higher-than-estimated sales, and the consumer goods giant warned of a slowdown in growth in the current year.
The consumer products company reported net income of $3.05 billion, or $1.21 per share, for the quarter to June 30, up from $2.91 billion, or $1.13 per share, a year ago.
Analysts had expected earnings of $1.22 per share.
Sales rose 3% to $19.5 billion, beating estimates of $19.4 billion.
Organic sales, which exclude the effects of currency, acquisitions and divestitures, were up 7%.
The company said it expects posted sales for fiscal 2023 to increase by 0%-2%, with organic sales to move higher by 3%-5%.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
