Procter & Gamble Q2 Profit Falls, but Still Beats Expectations (PG)

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Consumer products maker The Procter & Gamble Company ( PG ) on Thursday said its fiscal second quarter profit fell significantly from last year, but results still beat analysts' view.

The Cincinnati-based compared reported fiscal second quarter net income of $3.33 billion, or $1.11 per share, compared with $4.66 billion, or $1.49 per share, in the year-ago period. Last year's results were bolstered by a big one-time gain.

Revenue rose 2% from last year to $21.3 billion.

On average, Wall Street analysts expected a slightly smaller profit of $1.10 per share, albeit on higher revenue of $21.51 billion.

Looking ahead, the company forecast a 5% to 7% revenue gain for the current third quarter, with profits ranging from 95 cents to $1. Analysts currently expect 99 cents for the quarter.

Procter & Gamble shares fell $1.61, or -2.4%, in premarket trading Thursday.

The Bottom Line
We have been recommending shares of Procter & Gamble ( PG ) since Sept.1, 2009, when the stock was trading at $54.11. The company has a 2.92% dividend yield, based on last night's closing stock price of $66.11.

The Procter & Gamble Company ( PG ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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