Procter & Gamble Q1 Profit Falls Slightly; Results Match Estimates (PG)

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Consumer products maker The Procter & Gamble Company ( PG ) on Thursday posted a small decline in fiscal first quarter profits despite higher revenue, as results were in-line with analyst expectations.

The Cincinnati-based company reported fiscal first quarter net income of $3.024 billion, or $1.03 per share, compared with $3.081 billion, or $1.02 per share, in the year-ago period.

Net sales rose 9% from last year to $21.92 billion.

On average, Wall Street analysts expected a matching profit of $1.03 per share, on lower revenue of $21.55 billion.

Looking ahead, P&G predicted earnings of $1.05 to $1.11 for its fiscal second quarter, which would miss analyst estimates of $1.16 per share.

For the full year, the company backed its prior forecast for profits of $4.17 to $4.33 per share, while analysts expect $4.21 per share for the year.

Procter & Gamble shares posted modest gains in premarket trading Thursday.

The Bottom Line
Shares of Procter & Gamble ( PG ) have a 3.23% dividend yield, based on last night's closing stock price of $64.95. The stock has technical support the $60-$62 price area. If the shares can firm up, we see overhead resistance around the $67-$68 price levels.

The Procter & Gamble Company ( PG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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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