P&G shares fall despite good sales as Wall Street sets high bar
Procter & Gamble’s organic sales rose 5% and it has raised its profit outlook on expected higher growth for the full year
23 January 2020 - 18:10
New York — Procter & Gamble (P&G) fell 3.5% on Thursday as investors focused on a revenue miss instead of an optimistic forecast, a sign that Wall Street is setting a high bar for quarterly earnings with stocks at record highs.
Organic sales, which exclude items such as acquisitions and currency fluctuations, rose 5% in the company’s fiscal second quarter, short of the average of analysts’ projections for growth of 5.6%, according to estimates compiled by Bloomberg...
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