P&G Raises Forecast to Highest Expectation of Earnings Pushed by eight% Income Soar

Bottles of Tide Laundry Detergent, a Procter & Gamble product, will be on sale at a pharmacy in Los Angeles, California on July 30, 2020.

Mario Tama | Getty Images

Procter & Gamble on Wednesday raised its outlook for fiscal 2021 after sales rose 8% in the second quarter, driven by higher demand for cleaning products as well as shaving and styling products.

The company reported, relative to Wall Street expectations based on an analyst survey by Refinitiv:

  • Earnings per share: $ 1.64, adjusted versus expected $ 1.51
  • Revenue: $ 19.75 billion versus $ 19.27 billion expected

Excluding items, the company earned $ 1.64 per share, beating the analysts surveyed by Refinitiv at $ 1.51 per share.

Net sales rose 8% to $ 19.75 billion, beating expectations of $ 19.27 billion.

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