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Shares of the company were down 1.4 percent in premarket
trading.
The net income attributable to the company fell to $2.50
billion, or 93 cents per share, in the second quarter ended Dec.
31, compared with $7.88 billion, or $2.88 per share, a year
earlier.
The company said it took a net charge of $628 million for the
quarter, the result of an estimated repatriation tax charge of
$3.8 billion and a net deferred tax benefit of $3.2 billion.
Excluding that charge and other items, the company earned $1.19
per share, beating the average analyst estimate of $1.14 per
share.
Net sales for the world's largest consumer products maker by
market value rose 3 percent to $17.4 billion, boosted by strong
sales in its healthcare and beauty businesses.
Demand for Olay skincare products and its high-end SK-II brand
drove sales in its beauty business, while its healthcare
business gained from brisk sales of Oral-B toothbrushes and
Vicks cough and cold products, which benefited from a
colder-than-usual winter season.
Organic sales - which exclude acquisitions, divestitures and
foreign exchange fluctuations- rose 2 percent, the company said
in a statement.
(This story corrects to "fiscal year" from "last year" in
paragraph 1.)
(Reporting by Siddharth Cavale and Vibhuti Sharma in Bengaluru;
Editing by Supriya Kurane and Anil D'Silva)
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