10/25/2016, 2:07 PM (Source: TeleTrader)
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P&G jumps 2% in pre-market, EPS up 5%

Procter & Gamble reported on Tuesday its first quarter of fiscal year 2017 net income rose to $2.76 billion from $2.60 billion a year ago. Diluted earnings per share (EPS) grew 5% to $0.96 from $0.91 in the same period while core EPS were $1.03 compared to $0.98.

The consumer goods giant said revenues remained unchanged at $16.5 billion from a year ago, while organic sales rose by 3%.

P&G said it maintained its guidance for organic sales growth of around 2% for fiscal 2017, while net sales growth is expected to be about 1%. The company also kept its projection for core EPS growth of mid-single digits compared to $3.67 in fiscal 2016.

The company’s shares jumped 2.26% to $86 in pre-market trading on Tuesday (1:35 p.m. CET).

Baha Breaking the News (BBN) / AM