Pepto Bismol made by Procter & Gamble is displayed on a grocery store shelf on July 28, 2023 in Greenbrae, California.Â
Justin Sullivan | Getty Images
Procter & Gamble on Wednesday reported quarterly earnings and revenue that beat analysts’ expectations, thanks to growing demand for household staples like toilet paper and laundry products.
Shares of the company rose 2.5% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $1.88 adjusted vs. $1.86 expected
- Revenue: $21.88 billion vs. $21.54 billion expected
P&G reported fiscal second-quarter net income attributable to the company of $4.63 billion, or $1.88 per share, up from $3.47 billion, or $1.40 per share, a year earlier.
Excluding items, the company earned $1.88 per share.
Net sales rose 2% to $21.88 billion.
