Procter & Gamble profit down, but exceeds estimates

April 30, 2009

CINCINNATI — Procter & Gamble said today that its fiscal third-quarter profit declined 4 percent, according to MarketWatch, but beat analyst estimates.

Net income fell to $2.61 billion, or 84 cents a share, from $2.71 billion, or 82 cents, a year earlier, according to the press release.

Sales fell 8 percent to $18.4 billion for the quarter ended March 31. They would have been up 1 percent without the impact of currency translations. Lower shipments also have blunted sales, according to the article.

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