Proctor & Gamble Keeping Shareholders Happy (PG)

Blue chip name Proctor & Gamble (NYSE: PG) reported a decline in Q2 profits, but beat earnings estimates as a result of aggressive price cutting. Earnings per share came in at $1.49 per share on net profit of $4.66 billion. Analysts had been expecting the company to report EPS of $1.43.

In a statement, chairman, president and chief executive officer, Bob McDonald said, "We are pleased with the top- and bottom-line underlying results for the quarter. Our investments in innovation, portfolio expansion, marketing support and consumer value are working. We continue to drive simplification and leverage our scale to create cost advantages and accelerate growth." In today's trading, Proctor & Gamble (PG) has gained 2.2% to $62.16.