1/23/2019, 1:09 PM (Source: TeleTrader)
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P&G posts net sales of $17.4B in Q2

American consumer goods corporation Procter & Gamble Co. (P&G) announced on Wednesday its net earnings in the second fiscal quarter of 2019 stood at $17.44 billion, unchanged compared to a year ago. Net income rose from $2.5 billion, or $0.93 per share in the previous quarter to $3.19, or $1.22 per share in the second fiscal three-month period of 2019. The annual rise in EPS was mostly attributed to the income tax charges related to the transitional impacts of the tax reform in the US. Meanwhile, the company's core earnings-per-share (EPS) in the same three-month period increased by 5% to $1.25.

"We delivered strong organic sales in the second quarter, building on our first quarter momentum, which enables us to increase our outlook for the year," said David Taylor, Chairman, President and Chief Executive Officer. "Our focus on superiority, productivity and improving P&G’s organization and culture is delivering improved results despite a challenging competitive and macroeconomic environment."

P&G shares rose 3.11% following the release of the earning's report, despite closing previous session 1.07% in the negative territory.

Breaking the News / FH