Procter and Gamble's earnings report missed estimates on both the top and bottom lines.Earnings per share were 0.71 cents,versus an estimate of 0.73,while revenue was at 18.93 billion dollars,versus an estimate 0f 19.102 billion.Chief Financial Officer Joe Moeller said this was because the company chooses to invest more behind significant innovation and strategic initiatives.Procter&Gamble is building market share in every one of its regions.In the developed world,things are relatively slow.There is good growth in the developing world,but it is 25% below standard.
Procter&Gamble is seeing the re-acceleration of branded sales.The Pro-Glide razor is doing well.Pampers Dry-Max is doing extremely well.There's a very exciting year ahead of Procter&Gamble.There will be a Crest 3D White,a new laundry brand in India and a reformulation of Tide for the first time in 10 years.The company has a very sufficient pipeline for innovation,Mr.Moeller believes.
Procter&Gamble is headquartered in Cincinatti,Ohio.
Procter&Gamble(PG)
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