Procter & Gamble says its second-quarter net income fell 16 per cent as the world's largest consumer products maker faced tough comparisons from a year ago, the stronger dollar and flat sales globally.
But its adjusted earnings still beat expectations.
The maker of Tide detergent and Gillette razors says net income for the three months ended December 31 fell to USD 3.43 billion, or USD 1.18 per share. That's down from USD 4.06 billion, or USD 1.39 per share, last year. In the year ago period the company had a 21 cent per share gain related to buying out its joint venture in Iberia.
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Excluding restructuring costs in the latest period, earnings were USD 1.21 per share, a penny above analysts' expectations.
Revenue was flat at USD 22.28 billion, short of the USD 22.34 billion in revenue analysts expected.
