Thursday, April 28, 2011

Procter & Gamble Co. (NYSE: PG): Q3 2011 Earnings Roundup

Procter & Gamble Co. (NYSE: PG) said Thursday that its third-quarter profit climbed to $2.87 billion, or 96 cents a share, from $2.59 billion, or 83 cents a share, in the year-ago quarter.The company said its core earnings rose 8% to 96 cents a share. Revenue grew 5% to $20.23 billion. Analysts, on average, expected the company to report earnings of 97 cents a share on revenue of $20.24 billion.

Looking ahead, the company said that it expects 2011 core earnings of $3.91 to $3.96 a share on net-sales growth of 4% to 5%.

"The growth fundamentals of our business are strong," said Chairman of the Board, President and Chief Executive Officer Bob McDonald. "We delivered broad-based volume, sales, and market share growth, and grew EPS in a very difficult operating environment. We increased our dividend for the 55th consecutive year, by 9 percent. We continue to advance our Purpose-inspired growth strategy of improving the lives of more consumers, in more parts of the world, more completely."

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