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Here’s what to expect from Procter & Gamble earnings

Procter & Gamble on Thursday reported mixed quarterly results and raised its fiscal 2020 forecast.Shares of the company fell 2% in premarket trading.Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: $1.42, adjusted, vs. $1.37 expectedRevenue: $18.24 billion vs. $18.37 billion expectedP&G reported…

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Published on January 23, 2020

Procter & Gamble on Thursday reported mixed quarterly results and raised its fiscal 2020 forecast.

Shares of the company fell 2% in premarket trading.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $1.42, adjusted, vs. $1.37 expected
Revenue: $18.24 billion vs. $18.37 billion expected

P&G reported fiscal second-quarter net income of $3.72 billion, or $1.41 per share, up from $3.19 billion, or $1.22 per share, a year earlier.

Excluding items, the consumer giant earned $1.42 per share, topping the $1.37 per share expected by analysts surveyed by Refinitiv.

Net sales rose 5% to $18.24 billion, falling short of expectations of $18.37 billion.

P&G expects sales growth of 4% to 5% in fiscal 2020, up from its prior range of 3% to 5%. It now also expects core earnings per share to increase to a range of 8% to 11%, up from its prior range of 5% to 10%.

Read the full earnings release here.