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P&G
has been shrinking its portfolio to focus on core, high-growth
brands such as Gillette shaving products, Pampers diapers and
Tide detergent.
Cost of selling goods fell 11.5 percent to $8.46 billion, while
selling, general and administrative costs fell 14 percent to
$4.60 billion in the quarter.
Net earnings attributable to the company rose to $3.21 billion,
or $1.12 per share, in the quarter ended Dec. 31, from $2.37
billion, or 82 cents per share, a year earlier.
Excluding items, the company earned $1.04 per share, beating the
average analyst estimate of 98 cents, according to Thomson
Reuters I/B/E/S.
Sales fell 8.5 percent to $16.92 billion, slightly below the
average analyst estimate of $16.94 billion.
The company said it would spend $15 billion-$16 billion in
dividend payments, share exchanges and share repurchases this
fiscal year, including more than $7 billion of dividends.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Shounak Dasgupta and Saumyadeb Chakrabarty)
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