Ris­ing ‘Tide’ for P&G

Daily Freeman (Kingston, NY) - - BUSINESS -

Proc­ter & Gam­ble’s stock rose Tues­day af­ter the huge con­sumer goods maker, whose brands in­clude Tide and Charmin, re­ported solid gains in sales of per­sonal care prod­ucts such as tooth­brushes and de­odor­ants.

P&G has been try­ing to trans­form its busi­ness by fo­cus­ing on big­ger brands with growth po­ten­tial. It has al­ready shed some of the smaller brands it says col­lec­tively con­trib­ute lit­tle to its op­er­at­ing profit.

P&G earned $2.71 bil­lion, or 96 cents per share, in the first quar­ter. Ad­justed earn­ings ac­count­ing for dis­con­tin­ued op­er­a­tions and re­struc­tur­ing costs were $1.03 per share. That topped the 98 cents per share fore­cast by an­a­lysts sur­veyed by Zacks In­vest­ment Re­search.

Rev­enue was ba­si­cally flat at $16.52 bil­lion; an­a­lysts an­tic­i­pated $16.45 bil­lion.

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