P&G 4Q profit rises, benefits from lower expenses
CINCINNATI (AP) — Procter & Gamble Co.'s fiscal fourth-quarter net income climbed 38 percent, bolstered in part by lower expenses.
The world's largest consumer product maker said Friday that net income increased to $2.58 billion, or 89 cents per share, for the three months ended June 30. That compares with $1.88 billion, or 64 cents per share, a year ago.
Earnings, adjusted for one-time gains and costs, came to 95 cents per share. Analysts polled by FactSet forecast 91 cents per share.
The Cincinnati company said revenue fell slightly to $20.16 billion from $20.3 billion. Wall Street expected $20.47 billion.
For fiscal 2015, P&G anticipates adjusted earnings growth in the range of mid-single digits. Revenue is expected to be in the low single digit range.
Its stock rose in premarket trading.