Procter & Gamble's Quarterly Sales Exceeded Expectations
Procter & Gamble Co, the baby and personal care products giant, beat quarterly revenue estimates, driven by an international improvement in prices and strong demand for its beauty products.
The company has not been embroiled in health problems or business scandals over product quality. Contrary to other competing companies. Overall, the company's net sales increased 3.6% to $17.09 billion in the fourth quarter.
This figure has exceeded the average estimate that analysts had made of $16.86 billion, according to IBES data from Refinitiv. However, P&G had reported a net loss attributable to the company of $5.24 billion, for the quarter ended June 30.
The company's sales improved thanks to the invention of water purification systems and the products necessary for this process. During the year, the use of a P&G product to clean dirty water and meet the needs of the world's poorest populations went viral, gaining the trust of customers.
