P&G Profit Falls 31% as Stronger Dollar Hurts Sales Abroad
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Procter & Gamble Co., the world’s largest consumer-products maker, said second-quarter profit fell 31 percent as the stronger dollar ate away at sales and earnings from its international units.
Net income dropped to $2.37 billion, or 82 cents a share, from $3.43 billion, or $1.18, a year earlier, Cincinnati-based P&G said Tuesday in a statement. Excluding some items, profit was $1.06 a share. The average of 21 analysts’ estimates compiled by Bloomberg was $1.13.