Procter & Gamble Q3 Profit Rises 11% Despite Lower Margins; Forecast Cut (PG)

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Consumer products maker The Procter & Gamble Company ( PG ) on Thursday said its fiscal third quarter net income rose 11% from last year, but cut the high-end of its full-year forecast.

The Cincinnati-based company reported fiscal third quarter net income of $2.87 billion, or 96 cents per share, compared with $2.59 billion, or 83 cents per share, in the year-ago period.

Revenue rose 5.5% from last year to $20.23 billion.


On average, Wall Street analysts expected a slightly higher profit of 97 cents per share, on slightly higher revenue of $20.24 billion.

Looking ahead, the company cut its full-year earnings outlook range to $3.91 and $3.96 per share, down from a prior estimate of $4.01 per share. Analysts expect $3.96 per share for the year.

Procter & Gamble shares fell 92 cents, or -1.4% per share, 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 3.28% dividend yield, based on last night's closing stock price of $64.02.

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 The NASDAQ OMX Group, Inc.

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