Procter & Gamble Co PG is trading higher Wednesday after the company announced better-than-expected fiscal second-quarter 2022 financial results and issued guidance.
Procter & Gamble reported quarterly earnings of $1.66 per share, which beat the estimate of $1.65 per share. The company reported quarterly revenue of $20.95 billion, which beat the estimate of $20.34 billion.
Procter & Gamble expects fiscal-year 2022 core earnings of $5.66 per share versus the estimate of $5.91 per share. The company also expects to repurchase $9 billion to $10 billion of its common shares during its fiscal year.
"We delivered very strong top-line growth and made sequential progress on earnings in the face of significant cost headwinds," said Jon Moeller, president and CEO of Procter & Gamble.
"These results keep us on track to deliver our earnings outlook and to raise estimates for sales growth, cash productivity and cash return to shareowners," Moeller added.
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PG Price Action: Procter & Gamble has traded as low as $121.54 and as high as $165.32 over a 52-week period.
The stock was up 4.23% at $163.38 at time of publication.
Photo: courtesy of Procter & Gamble.
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