P&G 4Q profit rises, benefits from lower expenses

Procter & Gamble 4Q profit climbs, helped in part by lower expenses

Associated Press

CINCINNATI (AP) -- Procter & Gamble Co.'s fiscal fourth-quarter net income climbed 38 percent, bolstered in part by lower expenses.

Its stock rose more than 2 percent in premarket trading on Friday.

The world's largest consumer product maker said that net income increased to $2.58 billion, or 89 cents per share, for the three months ended June 30. That compares with $1.88 billion, or 64 cents per share, a year ago.

Earnings, adjusted for one-time gains and costs, came to 95 cents per share. Analysts polled by FactSet forecast earnings of 91 cents per share.

Selling, general and administrative expense declined 7 percent to $6.28 billion.

The Cincinnati company said revenue fell slightly to $20.16 billion from $20.3 billion due to foreign currency fluctuations and some divestitures. Wall Street expected $20.47 billion.

Full-year net income climbed to $11.64 billion, or $4.01 per share, from $11.31 billion, or $3.86 per share in the previous year.

Adjusted profit was $4.22 per share.

Annual revenue increased to $83.06 billion from $82.58 billion.

For fiscal 2015, P&G anticipates adjusted earnings growth in the range of mid-single digits. Revenue is expected to be in the low single digit range.

Shares gained $1.67, or 2.2 percent, to $78.99 before the market open.

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