P&G raises forecast after earnings top expectations, fueled by 8% jump in sales

Bottles of Tide detergent, a Procter & Gamble product, are displayed for sale in a pharmacy on July 30, 2020 in Los Angeles, California.Mario Tama | Getty Images

Procter & Gamble on Wednesday raised its fiscal 2021 outlook after its fiscal second-quarter revenue rose 8%, fueled by higher demand for its cleaning products and shaving and styling products.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.64, adjusted, vs. $1.51 expected
  • Revenue: $19.75 billion vs. $19.27 billion expected

Excluding items, the company earned $1.64 per share, beating the $1.51 per share expected by analysts surveyed by Refinitiv.

Net salesrose 8% to $19.75 billion, topping expectations of $19.27 billion.

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