Procter & Gamble reported quarterly earnings and revenue that beat analysts' expectations aided by investments the company is making to develop new products and boost advertising. The company reported earnings of 79 cents a share on $16.10 billion in revenue.
Procter & Gamble (PG) reported earnings of $2.75 billion, or 97 cents a share, up 28% from a profit of $2.15 billion, or 75 cents a share, from the same period a year ago. On an adjusted basis, the company earned 86 cents a share, beating analysts' expectations of 81 cents a share by 6%. Revenue dropped from $18.14 billion to $15.76 billion over the same time period; analysts surveyed by Zacks expected revenue of $15.73 billion.