P&G Profit Tops Estimates as Cuts Costs Cushion Soft Sales
- Consumer-products maker maintains core revenue forecast
- Operating margin expands as Taylor focuses on productivity
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Procter & Gamble Co. posted fiscal third-quarter profit that topped analysts’ estimates as cost cuts helped cushion the blow of tepid sales.
Profit fell to 86 cents a share, excluding some items, in the period ended March 31, the Cincinnati-based company said in a statement Tuesday. Analysts projected 82 cents, on average. Revenue slipped 6.9 percent to $15.8 billion, matching estimates.