UPDATE: Procter & Gamble Posts Better-Than-Expected Q2 Profit

Procter & Gamble Co PG reported a 16% fall in its second-quarter net profit. Procter & Gamble's quarterly profit declined to $3.43 billion, or $1.18 per share, from a year-ago profit of $4.06 billion, or $1.39 per share. Its core earnings fell to $1.21 per share. Its sales came in at $22.28 billion versus $22.18 billion. However, analysts were projecting earnings of $1.20 per share on sales of $22.36 billion. P&G shares fell 1.24% to $78.25 in pre-market trading.