Procter & Gamble reported adjusted earnings of $1.59 per share, exceeding the $1.56 analyst estimate. Quarterly revenue reached $21.24 billion, surpassing the $20.5 billion consensus.
Organic sales grew 3% during the period. Company-wide product volume increased 2%, marking the first such gain in a year. The Beauty segment led growth with a 5% volume increase, while the Baby and family care division rose 3%.
Management reiterated full-year guidance but expects results to land at the lower end of the range. The company cited rising costs and an uncertain macroeconomic environment for the cautious outlook.