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10/22/2019, 12:59 PM (Source: TeleTrader)
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Procter & Gamble says EPS up 11% YoY in Q1

The Procter & Gamble Company announced on Tuesday that its core earnings per share jumped 22% year-over-year to $1.37 in the fiscal first quarter of 2020. Diluted EPS were reported at $1.36, 11% higher than in the year-ago period.

Organic sales increased 7% compared to the previous year, leading to revenue of $17.8 billion in the quarter which topped analyst estimates.

"We will continue executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organization and culture to deliver balanced top-line and bottom-line growth along with strong cash generation in a challenging competitive and macroeconomic environment," Chief Executive David Taylor said. The company raised its fiscal 2020 profit guidance as well.

Shares of P&G surged 3.17% in premarket trading just after the release of the financial update.

Breaking the News / JC