Why Procter & Gamble Shares Are Rising

Procter & Gamble Co PG shares are trading higher Wednesday after the company reported better-than-expected financial results. 

Procter & Gamble said fiscal third-quarter revenue increased 7% year-over-year to $19.4 billion, which beat the $18.73 billion estimate. The company reported quarterly earnings of $1.33 per share, which beat the estimate of $1.30 per share. Earnings were up 6% year-over-year.

Procter & Gamble raised its outlook for fiscal 2022 all-in sales growth from a range of 3% to 4% to a range of 4% to 5% versus the prior year. The company also raised its guidance for organic sales growth from a range of 4% to 5% to a range of 6% to 7%.

Procter & Gamble expects full-year earnings growth to be in a range of 6% to 9%. 

See Also: Why Netflix Shares Are Getting Hammered

PG 52-Week Range: $130.29 - $165.35

According to data from Benzinga Pro, the stock was up 3.06% at $164.28 at time of publication.

Photo: courtesy of Procter & Gamble.