P&G Earnings Hit By Higher Costs. ‘Strength in Innovation’ May Help Demand.

Procter & Gamble


stock recovered from an early loss, edging higher after the consumer goods company posted second-quarter earnings that matched analysts’ expectations. Gross margins declined largely due to higher costs.

Net sales came in at $20.8 billion, while diluted earnings were $1.59 per share, Procter & Gamble said Thursday. Analysts had anticipated $20.7 billion of sales and a per-share profit of $1.59, according to FactSet.