Boxes of Bounce dryer sheets by Procter & Gamble are seen on a store shelf on October 20, 2020 in Miami, Florida.
Joe Raedle Getty Images
Procter & Gamble on Friday reported weaker-than-expected earnings as weak demand in China again weighed on its sales.
The company’s shares were lower in market trading.
Here’s what the company reported compared to Wall Street’s expectations, based on a survey of analysts by LSEG:
- Earnings per share: $1.93 adjusted vs $1.90 expected
- Revenue: $21.74 billion vs. $21.91 billion expected
IP&G reported first-quarter net income for the company of $3.96 billion, or $1.61 per share, down from $4.52 billion, or $1.83 per share, a year earlier.
Excluding restructuring charges and other items, the company earned $1.93 per share.
Total sales down 1% to $21.71 billion.