P&G Earnings Forecast Trails Analysts’ Estimates
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Procter & Gamble Co., the world’s largest household-products maker, forecast first-quarter profit that fell short of analysts’ projections as some consumers limit spending on name brands. The shares declined the most in a year.
Profit, excluding some items, will be as much as $1.01 a share in the July-September period, the Cincinnati-based company said today. That compared with the $1.05 average of estimates compiled by Bloomberg. Net income fell 12 percent last quarter as marketing costs increased, squeezing profit margins.