Photo: AFP
Photo: AFP

P&G Q2 profit tops estimates, helped by lower expenses

Earnings amounted to $1.04 a share, says the firm

New York: Procter & Gamble Co., the world’s largest consumer-products company, posted second-quarter earnings that beat analysts’ estimates, helped by improving profit margins and lower costs.

Earnings amounted to $1.04 a share, the Cincinnati-based company said in a statement on Tuesday. Analysts had estimated 98 cents on average, according to data compiled by Bloomberg.

Lower overhead expenses helped boost profit last quarter, the company said. Premium-priced items such as Tide Pods also are helping bolster sales in the US, which accounts for about one-third of P&G’s business. That helps mitigate the continued impact of a strong dollar, which has eaten away at sales and profit overseas.

“The US has definitely stabilized since last quarter," Nik Modi, an analyst at RBC Capital Markets, said before the results were released. Bloomberg

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