Procter & Gamble beat Wall Street expectations on the highest and bottom lines, but profits were bolstered partly by price hikes and it still isn’t seeing the recovery in travel retail that it had hoped for.
The buyer goods giant reported third-quarter fiscal-year 2023 net sales of $20.1 billion, a rise of 4 percent versus the prior 12 months. Analysts polled by Factset forecast $19.3 billion.
Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, rose 7 percent.
Diluted net earnings per share were $1.37, a rise of three percent versus the prior 12 months, beating Wall Street expectations for $1.32. Net earnings were $3.4 billion for the quarter.
P&G raised its guidance for fiscal 2023 all-in sales to grow...
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