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P&G beats Street 3Q forecasts

CINCINNATI – CINCINNATI (AP) _ Procter & Gamble Co. (PG) on Tuesday reported fiscal third-quarter net income of $2.75 billion.

On a per-share basis, the Cincinnati-based company said it had profit of 97 cents. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The world’s largest consumer products maker posted revenue of $15.76 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $15.73 billion.

P&G shares have increased 2.5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2 per cent. The stock has risen almost 1 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PG at http://www.zacks.com/ap/PG

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Keywords: Procter & Gamble, Earnings Report, Priority Earnings