The pandemic influenced consumer behavior, leading P&G to raise forecast
One of the largest American consumer goods corporations, P&G, reported its fiscal second-quarter earnings earlier today.
For Q2, the Pantene-owner had an EPS of $1.64, the figures coming in ahead of the $1.51 expected. The revenue also came higher than expected. The market was looking for $19.27 billion, while the actual figures were $19.75 billion. The net income for the quarter was $3.85 billion.
Most of the brand’s segments reported growth. The most significant ones were in the organic grooming – 20% - and health care segment – 9%.
In fiscal 2021, P&G expects to buyback stocks worth around $10 billion, higher than the $7 billion-$9 billion previously touted.
Following the news, the company’s stock price went up more than 1%.
Sources: cnbc.com
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