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Procter & Gamble shares hit a new all-time high this week, …
Procter & Gamble announce earnings
Posted: 01/27/2011
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By: Associated Press
CINCINNATI - Procter & Gamble says sales are rising in most of its markets as households loosen up their spending.
The world leader of consumer products that includes Crest toothpaste and Tide detergent had a net income of $3.33 billion, or $1.11 per share. That's compared with $4.66 billion, or $1.49 per share last year, when earnings got a 47-cent-per-share boost from sale of the company's prescription drug business.
Revenue rose 2 percent to $21.3 billion as the company sold more products. Analysts expected $1.10 per share on $21.51 billion.
P&G forecast revenue to rise 5 to 7 percent in the current quarter, with earnings in a range of 95 cents to $1. Analysts expect 99 cents.
Copyright Associated Press
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