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The maker of Tide detergent and Pampers diapers
gets roughly two-thirds of sales from outside the United States.
The dollar has surged about 8.5 percent against a basket of
major currencies since the beginning of the year, making sales
denominated in other currencies less valuable in dollar terms.
P&G's sales fell to $18.14 billion in the third quarter ended
March 31, hit 8 percentage points by a strong dollar and 1
percentage point by the planned divestitures of some brands.
Sales in the company's beauty, hair and personal care products
business fell for the ninth quarter in a row, dragging down
P&G's total sales and volumes.
Analysts on average were expecting revenue of $18.49 billion,
according to Thomson Reuters I/B/E/S.
The company's shares were down 0.7 percent at $82.47 in
premarket trading on Wednesday.
Net income attributable to P&G fell to $2.15 billion, or 75
cents per share, in the third quarter ended March 31, from $2.61
billion, or 90 cents per share, a year earlier.
P&G said it took a non-cash charge of $300 million, or 10 cents
per share, related to the sale of its Duracell battery business
to Berkshire Hathaway Inc <BRKa.N> last November.
On an adjusted basis, the company's earnings of 92 cents per
share were in line with analysts' average estimate.
Up to Wednesday's close, P&G stock had fallen nearly 9 percent
this year.
(Reporting by Yashaswini Swamynathan in Bengaluru and Nandita
Bose in Chicago; Editing by Savio D'Souza)
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