Procter & Gamble (PG) Q4 2023

Tide laundry detergent is shown on display in Compton, California, U.S., January 10, 2017. Mike Blake | ReutersProcter & Gamble on Friday reported quarterly earnings and revenue that beat analysts’ expectations.But the company released a gloomy outlook for its fiscal 2024 sales that fell short of Wall Street’s estimates. Shares of the company rose 1.5% in premarket trading.Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: $1.37 vs. $1.32 expectedRevenue: $20.55 billion vs. $19.98 billion expectedThe Tide detergent owner reported fiscal fourth-quarter net income of $3.38 billion, or $1.37 per share, up from $3.05 billion, or $1.21 per share, a year earlier.Net sales rose 5% to $20.55 billion.For fiscal 2024, P&G is forecasting that its revenue will grow 3% to 4%, lower than Wall Street’s expectations of 4.5% sales growth. The company is also projecting earnings per share growth of 6% to 9%, which is on the lower end of analysts’ forecast of 8.8%.

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