Procter & Gamble earnings beat estimates as sales grow 7%

Procter & Gamble on Friday reported quarterly earnings and revenue that topped analysts' expectations, fueled by stronger demand for its beauty products. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: P&G reported fiscal third-quarter net income attributable to the company of $3.93 billion, or $1.63 per share, up from $3.78 billion, or $1.54 per share, a year earlier. Net sales rose 7% to $21.24 billion. Organic sales, which strips out acquisitions, divestitures and currency, increased 3%. P&G's volume increased 2%, marking the first time in a year that it reported growing volume across the company. The metric excludes pricing, which makes it a more accurate reflection of demand than sales. Like many consumer companies, P&G has seen demand for its products shrink as shoppers try to spend less and stretch their laundry detergent and shampoo further. The company reiterated its full-year forecast of sales growth between 1% and 5% and net earnings per share growth in the range of 1% to 6%. "We're increasing investments to accelerate momentum with consumers despite the challenging geopolitical and economic environment, while still maintaining our guidance ranges for the fiscal year," CEO Shailesh Jejurikar said in a statement. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.