1/19, 1:01 PM (Source: TeleTrader)
more TeleTrader news

P&G's Q2 net sales down by 1% to $20.8 billion

The Procter & Gamble Company (P&G) announced on Thursday that its revenue in the second quarter of the fiscal year 2023 observed an annual decline of 1% to reach $20.8 billion. Its gross profit decreased by 4% compared to the same trimester in 2022 to land at $9.88 billion, while its operating income went down by 7% to 4.78 billion. Meanwhile, its diluted earnings per share (EPS) decreased by 4% year-on-year to $1.59 per share.

"We delivered solid results [...] in what continues to be a very difficult cost and operating environment," President and Chief Executive Officer (CEO) Jon Moeller commented. "Progress against our plan fiscal year to date enables us to raise our sales growth outlook for fiscal 2023 and maintain our guidance range for EPS growth despite significant headwinds."

Following the release of the report, P&G's shares fell by 1.63% in premarket trading.

Baha Breaking News (BBN) / JR