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Tide owner Procter & Gamble cuts earnings, revenue outlook as quarterly sales disappoint

Procter & Gamble's quarterly earnings topped estimates, but its revenue fell short of expectations.

In this article PG Follow your favorite stocks CREATE FREE ACCOUNT Tide laundry detergent is shown on display in Compton, California. Mike Blake | Reuters Procter & Gamble on Thursday reported mixed quarterly results as demand for its products fell. The company, which owns Tide and Charmin, also slashed its full-year forecast for its core earnings per share and revenue.

Shares of the company fell 2% in premarket trading. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $1.54 vs.

$1.53 expected Revenue: $19.78 billion vs.

$20.11 billion expected P&G reported third-quarter net income attributable to the company of $3.77 billion, or $1.

54 per share, up from $3.75 billion, or $1.52 per share, a year earlier.

Net sales dropped 2% to $19.78 billion. This story is developing.

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