Procter & Gamble Co. tops expectations

Procter & Gamble Co. reported its second quarter fiscal year 2022 earnings before the opening bell on Wednesday.

The US consumer goods company reported total revenue of $20.953 billion, above analyst forecast of $20.335 billion.

Earnings per share at $1.66 per share vs. $1.65 a share expected by the analysts on Wall Street.

Jon Moeller, President and Chief Executive Officer commented on the latest results: ”We delivered very strong top-line growth and made sequential progress on earnings in the face of significant cost headwinds.”

”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. Our focus remains on the strategies of superiority, productivity, constructive disruption and continually improving P&G’s organization structure and culture. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to deliver balanced growth and value creation,” Moeller added.

Procter & Gamble Co. chart (1Y)

Shares of Procter & Gamble trading higher after the latest results – up by around 4% during the trading day on Wednesday. The stock is up by 23% in the past year at $163.27 per share.

Procter & Gamble Co. is the 19^th largest company in the world and with a total market cap of $395.64 billion.

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Sources: Procter & Gamble Co., TradingView, CompaniesMarketCap