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P&G’s Price Hikes Bolster Quarterly Sales as Costs Skyrocket

  • Consumer demand is holding up better than expected, CFO says
  • Revenue forecast raised, earnings seen at low end of range
Updated on

Procter & Gamble Co.’s third-quarter sales beat analyst expectations, helping to counter a sustained increase in costs. 

Organic revenue growth, a closely watched metric that strips out some items, was 10% in the period ended March 31, P&G said in a statement Wednesday. Higher sales were driven by price hikes, and to a lesser extent an increase in shipment volumes and a shift toward higher-priced products and geographical markets, the company said.