CINCINNATI - Procter & Gamble Co.'s fourth-quarter revenue and net income jumped by double digits on strong sales in emerging markets such as China and India. But the world's largest consumer products company sees things slowing down this quarter as the U.S. and other developed economies struggle.
The Cincinnati-based maker of Tide detergent, Pampers diapers and Gillette shavers on Friday reported earnings per share of 84 cents, as net income rose 15 percent to $2.51 billion. Revenue jumped 10 percent to $20.86 billion. Analysts expected 82 cents on $20.57 billion.
P&G expects earnings for the year ahead to be in a range of $4.17 to $4.33 per share. Analysts forecast $4.29 per share.
In the current quarter, P&G expects earnings in a $1-$1.04 range; analysts were looking for $1.14.
Procter & Gamble is "learning to grow," CEO A.G. Lafley told Wall Street Thursday.
P&G revealed Friday that it has already unloaded about 25 of the 90 to 100 brands it plans to exit as part of a larger plan to restore sales and profit growth. WCPO obtained a list of brands ditched to date.
The most dramatic moment of the P&G annual shareholder meeting Tuesday took place when a Manhattan mom strolled to the microphone and asked P&G to fire Larry the Cable Guy as a company spokesman.
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Procter & Gamble Co. joined Anheuser Busch, McDonald's and others in pressuring the NFL for a stronger response to domestic violence controversies.
It's P&G's biggest new product launch since Tide Pods. The Cincinnati-based consumer products giant offered new details on Always Discreet incontinence products Friday.