UPDATE: Colgate-Palmolive Posts Drop In Q2 Profit
Colgate-Palmolive Co (NYSE: CL) reported a drop in its second-quarter profit.
Colgate-Palmolive's quarterly profit declined to $561 million, or $0.60 per share, versus a year-ago profit of $627 million, or $0.65 per share. Excluding one-time items, its adjusted earnings climbed to $0.70 per share.
Its net sales increased to $4.35 billion from $4.27 billion. However, analysts were projecting earnings of $0.70 per share on revenue of $4.39 billion.
Colgate-Palmolive shares closed at $58.47 yesterday.
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