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published in Blogs
Jan 22, 2022
Procter & Gamble (PG, $162.60) beats fiscal Q2 earnings and revenue

Procter & Gamble (PG, $162.60) beats fiscal Q2 earnings and revenue

Procter & Gamble posted fiscal second-quarter earnings and revenue that beat analysts’ expectations.

The consumer goods company’s earnings came in at $1.66, vs. $1.65 expected

Revenue of $20.95 billion also surpassed analysts’ expectations of $20.34 billion.

Net sales rose 6% to $20.95 billion, exceeding expectations of $20.34 billion. Organic revenue, which strips out the impact of foreign currency, acquisitions and divestitures, also climbed +6% in the quarter, with half of that growth having come from raising prices on select products.

For fiscal 2022, P&G is now projects 3% to 4% sales growth, up from its previous forecast of 2% to 4%. It also plans to increase its stock buybacks for the fiscal year from a range of $7 billion to $9 billion to a range of $9 billion to $10 billion.

Related Tickers: PG