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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