Procter & Gamble Tops Q4 Profit Forecasts

The company announced plans to buyback $4 billion in stock this year

   

Procter & Gamble Tops Q4 Profit Forecasts

Procter & Gamble (NYSE:PG) announced on Friday that it earned $3.63 billion during its fiscal fourth quarter, up 45% from $2.51 billion in the same period last year.

The consumer products giant recorded revenue of $20.21 billion, down from $20.45 billion in 2011, and falling short of the $20.26 billion Wall Street expected, the Associated Press noted.

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Adjusted EPS for the quarter was 82 cents, which beat analysts, who had forecast 77 cents.

Shares of Procter & Gamble rose more than 3% on the news in Friday mid-day trading.

The company predicted current quarter adjusted earnings of between 91 cents and 97 cents a share. It also expects current quarter revenue of between $20.6 billion and $20.14 billion.

That forecast missed Wall Street, which is looking for earnings of $1.02 a share on revenue of $21.24 billion this quarter.

For the fiscal 2013, Procter & Gamble projects adjusted core earnings per share of between $3.80 and $4 on revenue of between $82 billion and $83.63 billion. Analysts have forecast full year earnings of $3.92 a share and revenue of $84.7 billion.

Procter & Gamble also said it planned to repurchase $4 billion worth of stock during the current fiscal year.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/procter-gamble-tops-q4-profit-forecasts/.

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