Procter & Gamble’s Profit Falls Less Than Estimates

Procter & Gamble Co., the world’s largest consumer-products company, said first-quarter profit fell less than analysts estimated after price increases helped counter volume declines. The stock gained in New York trading.

Net income dropped 1.2 percent to $3.31 billion from $3.35 billion a year earlier, the Cincinnati-based company said today in a statement. Earnings were $1.06 a share, compared with the 99 cent average of 12 analysts’ estimates compiled by Bloomberg. Colgate-Palmolive Co., the world’s largest toothpaste-maker, also reported earnings today that topped analysts’ projections.

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- Posted: 2009-10-29 10:30:17

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