Procter & Gamble Co. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Procter & Gamble Co. (PG) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $3.959 billion, or $1.61 per share. This compares with $4.521 billion, or $1.83 per share, in last year's first quarter.

Excluding items, Procter & Gamble Co. reported adjusted earnings of $4.76 billion or $1.93 per share for the period.

Analysts on average had expected the company to earn $1.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.6% to $21.737 billion from $21.871 billion last year.

Procter & Gamble Co. earnings at a glance (GAAP) :

-Earnings (Q1): $3.959 Bln. vs. $4.521 Bln. last year. -EPS (Q1): $1.61 vs. $1.83 last year. -Revenue (Q1): $21.737 Bln vs. $21.871 Bln last year.

-Guidance: Full year EPS guidance: $6.91 to $7.05