Procter & Gamble Reports Missed Revenue Estimates Despite Stronger Earnings
Procter & Gamble reported mixed quarterly results, with earnings per share exceeding Wall Street estimates but revenue falling short of expectations due to weak demand. The company's adjusted EPS was $1.43 compared to the expected $1.41, while net sales rose slightly by 2% to $21.2 billion against an estimated $21.38 billion. P&G also announced a leadership change as CEO Shailesh Jejurikar will transition to chair of the board on August 1st, succeeding former CEO Jon Moeller. The company's shares dropped more than 3% in premarket trading following the report.
Tickers: $PG
Topics: earnings leadership change revenue miss