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Procter & Gamble Co (NYSE:PG, ETR:PRG) reported a surprise decline in first-quarter net sales, its second consecutive quarterly sales drop, driven by consumers in the U.S. and China switching to cheaper brands amid economic uncertainty.
Procter & Gamble (PG) came out with quarterly earnings of $1.93 per share, beating the Zacks Consensus Estimate of $1.90 per share. This compares to earnings of $1.83 per share a year ago.
Procter & Gamble CEO Jon Moeller joins 'Squawk Box' to discuss the company's quarterly earnings results, sales growth outlook, weak China demand, impact of inflation on pricing strategies, strength of the consumer, and more.
CNBC's Joe Kernen reports on the company's quarterly earnings results.
Shares of Procter & Gamble Co. fell 1.2% in premarket trading Friday, after the consumer packaged-goods company reported fiscal first-quarter profit that beat expectations and maintained its full-year outlook even as sales surprisingly declined.
As a consumer-products giant, P&G tends to serve as a bellwether for the habits of the average shopper.
Procter & Gamble beat quarterly earnings expectations but missed revenue estimates. The company said demand fell in its Greater China market.
Procter & Gamble missed Wall Street expectations for first-quarter sales on Friday, as consumers in its major markets, the United States and China, switched to cheaper household and personal care brands.
CINCINNATI--(BUSINESS WIRE)--The Procter & Gamble Company (NYSE:PG) reported first quarter fiscal year 2025 net sales of $21.7 billion, a decrease of one percent versus the prior year. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased two percent, on a prior year base period of seven percent growth. Diluted net earnings per share were $1.61, a decrease of 12% versus prior year due to higher non-core restructuring charges. Core earning.
The Procter & Gamble Company PG will release earnings results for its first quarter, before the opening bell on Friday, Oct. 18.