Procter & Gamble missed the consensus Q4
Posted by adminProcter & Gamble announces earnings below expectations during the fourth quarter, sales growth could not offset higher marketing expenses.
The group of consumer products said that investments in new products launched this year – Pampers Dry Max, ProGlide Fusion razor and tooth whitening strips Crest 3D White outpaced growth of 5% of turnover 'net sales.
"Next year will be another great year of innovation for us and we will invest accordingly," said CFO Jon Moeller, during a teleconference with the press.
Net income for the quarter ended June 30 was $ 2.19 billion, or 71 cents per share, against 2.47 billion (80 cents) a year earlier.The Thomson Reuters consensus I / B / E / S gave an EPS of 73 cents.
The turnover stood at 18.93 billion dollars (19.1 billion consensus).
P & G expects earnings per share of 97 cents to $ 1.01 in the first quarter of the year, and an organic growth of 3% to 5%.
Effects of unfavorable exchange rates would reduce net revenue growth of 3%.
Analysts are waiting for their share of $ 1.04 a share, in the first quarter.
The share lost 5.3% to 59.77 dollars in pre-market after these announcements.