P&G: Fiscal 1Q Earnings Snapshot

CINCINNATI (AP) - Procter & Gamble Co. (PG) on Friday reported fiscal first-quarter net income of $3.2 billion.

On a per-share basis, the Cincinnati-based company said it had net income of $1.22. Earnings, adjusted for non-recurring gains, were $1.12 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The world’s largest consumer products maker posted revenue of $16.69 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $16.56 billion.

P&G shares have dropped 13 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 4 percent. The stock has dropped 14 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PG at https://www.zacks.com/ap/PG