Procter & Gamble (PG) Hits Four-Year High after Earnings

By
A A A

At last, some good earnings news.

Procter & Gamble ( PG ) easily beat forecasts for its fiscal first-quarter earnings today, pushing the stock above $70 a share for the first time since September 2008.

The company's core earnings of $1.06 per share exceeded its own estimates of 97 cents a share. That was up five cents from the $1.01 per share in core earnings P&G brought in a year ago.

However, core earnings don't take into account unfavorable foreign exchange rates weighing on the company's profits. When adding in the financial hit P&G took due to exchange rates, earnings were down 6.9% from a year ago and revenue declined 4%. Net sales for the quarter also slipped 3.7%.

Fortunately for P&G, investors chose to focus on the core earnings. That was enough to push the stock up nearly 3% - a sizable one-day gain for a stock that, until today, had traded in the same $58-to-$69 range for the past three years.

In an earnings season marred by high-profile misses from the likes of Google ( GOOG ), Microsoft ( MSFT ), McDonald's ( MCD ) and Chipotle ( CMG ) , Procter & Gamble's beat stands as a much-needed bright spot - even if the earnings were technically down from a year ago.

*Disclosure: I personally own shares of Procter & Gamble.



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



This article appears in: Investing , Stocks

Referenced Stocks: CMG , GOOG , MCD , MSFT , PG

Wyatt Investment Research

Wyatt Investment Research

More from Wyatt Investment Research:

Related Videos

How to Fire Your Adviser
How to Fire Your Adviser            

Stocks

Referenced

Most Active by Volume

75,750,465
  • $16.77 ▲ 0.36%
59,791,764
  • $101.58 ▲ 0.71%
38,720,622
  • $42.59 ▼ 0.28%
37,416,417
  • $46.52 ▼ 0.51%
35,101,793
  • $16.28 ▲ 0.74%
34,987,975
  • $99.53 ▲ 0.15%
33,760,830
  • $3.63 ▲ 0.69%
32,148,671
  • $17.61 ▲ 0.57%
As of 9/17/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com