Consumer products maker The Procter & Gamble Company ( PG ) on Friday posted a 15% gain in fiscal fourth quarter profit, beating analyst estimates, although its 2012 forecast fell short of expectations.
The Cincinnati-based company reported fiscal fourth quarter net income of $2.51 billion, or 84 cents per share, compared with $2.19 billion, or 71 cents per share, in the year-ago period.
Revenue rose 10% from last year to $20.86 billion.
On average, Wall Street analysts expected a smaller profit of 82 cents per share on lower revenue of $20.57 billion.
Looking ahead, the company forecast full-year fiscal 2012 earnings to range from $4.17 to $4.33 per share, which would miss analyst estimates of $4.45 per share.
Procter & Gamble shares rose 45 cents, or +0.8%, in premarket trading Friday.
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 3.52% dividend yield, based on last night's closing stock price of $59.58.
The Procter & Gamble Company ( PG ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.7 out of 5 stars.
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