Procter & Gamble Quarterly Profit Almost Flat; Low-End of Guidance Raised (PG)

By
A A A
Share |

Consumer goods maker The Procter & Gamble Company ( PG ) on Thursday said its first quarter profit was nearly flat from last year, as adjusted results beat analyst expectations.

The Cincinnati-based company reported first quarter net income of $2.59 billion, or 83 cents per share, compared with $2.61 billion, or 84 cent per share, in the year-ago period. Excluding one-time items, adjusted results amounted to 89 cents per share.

Net sales for the quarter were $19.18 billion.

On average, Wall Street analysts expected a smaller profit of 81 cents per share, albeit on higher revenue of $19.5 billion.

Looking ahead the company boosted the low-end of its full-year profit range by 4 cents. It now expects 2010 profit of $4.06 to $4.12 per share, while analysts predict $4.11 per share for the year.

Procter & Gamble shares fell 78 cents, or -1.2%, in premarket trading Thursday.

The Bottom Line
We have been recommending shares of PG since Sept.1, when the stock was trading at $54.11. The company has a 3.06% dividend yield, based on last night's closing stock price of $63.17.

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.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: PG

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

92%

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

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