P&G: Fiscal 4Q Earnings Snapshot
CINCINNATI (AP) _ Procter & Gamble Co. (PG) on Tuesday reported a fiscal fourth-quarter loss of $5.24 billion, after reporting a profit in the same period a year earlier.
The Cincinnati-based company said it had a loss of $2.12 per share. Earnings, adjusted for asset impairment costs and restructuring costs, came to $1.10 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The world’s largest consumer products maker posted revenue of $17.09 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $16.87 billion.
P&G shares have climbed 26% since the beginning of the year, while the Standard & Poor’s 500 index has risen 21%. The stock has increased 44% in the last 12 months.