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P&G posts 1Q profit, matches Wall Street estimates

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CINCINNATI — Procter & Gamble Co. (PG) on Friday reported net income of $1.99 billion in its fiscal first quarter.

On a per-share basis, the Cincinnati-based company said it had profit of 69 cents. Earnings, adjusted for one-time gains and costs, were $1.07 per share.

PHOTO: FILE - In this April 27, 2011 file photo, bottles of Procter & Gamble's Tide detergent are on display at a Target store in Richmond, Va.  Procter & Gamble Co. reports quarterly financial results on Friday, Oct. 24, 2014. (AP Photo/Steve Helber, File)
FILE - In this April 27, 2011 file photo, bottles of Procter & Gamble's Tide detergent are on display at a Target store in Richmond, Va. Procter & Gamble Co. reports quarterly financial results on Friday, Oct. 24, 2014. (AP Photo/Steve Helber, File)

The results matched Wall Street expectations, according to FactSet.

The world's largest consumer products maker posted revenue of $20.79 billion in the period. Analysts expected $20.76 billion, according to FactSet.

P&G shares rose $1.47 to $84.70 in premarket trading.

Through Thursday's close, company shares have increased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5.5 percent. The stock has climbed almost 3 percent in the last 12 months.

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