UPDATE: Procter & Gamble Posts Upbeat Q2 Profit, Lifts FY13 Forecast
Procter & Gamble Co (NYSE: PG) reported a surge in its second-quarter profit.
Procter & Gamble's quarterly profit jumped to $4.06 billion, or $1.39 per share, versus $1.69 billion, or $0.57 per share, in the year-earlier quarter. Its adjusted earnings came in at $1.22 per share.
Its sales climbed 2% to $22.18 billion. However, analysts were expecting earnings of $1.11 per share on revenue of $21.9 billion.
Procter & Gamble lifted its FY13 adjusted profit forecast to $3.97 to $4.07 per share, versus its previous forecast of $3.80 to $4 per share. However, analysts were expecting earnings of $3.97 per share.
Procter & Gamble shares gained 1.83% to $71.71 in pre-market trading.
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