Procter & Gamble Profit Gains on Weak Dollar
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Procter & Gamble Co. posted a rise in quarterly profit as the consumer products powerhouse got a lift from the weak dollar. The company also raised its earnings outlook for the year.
Profit rose to $2.04 billion, or 74 cents a share, in P&G;’s fiscal second quarter from $1.81 billion, or 65 cents, a year earlier.
Sales jumped 9% to $14.45 billion, including a 3% lift from foreign exchange.
P&G; said it now expected to earn 60 cents to 62 cents a share in its current quarter, which ends in March.
P&G; shares fell 12 cents to $55.32 on the New York Stock Exchange.
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