Procter & Gamble's Q1 earnings exceeded expectations but missed on revenue due to reduced demand in US and China amid economic uncertainty.
Procter & Gamble (P&G) reported first-quarter earnings of $1.93 per share, surpassing expectations, but its revenue of $21.74 billion fell short of the anticipated $21.91 billion, primarily due to reduced demand in the U.S. and China. The company's net income decreased to $3.96 billion from $4.52 billion the previous year. Consumers are increasingly opting for cheaper alternatives amid economic uncertainty, impacting P&G's market performance.
October 18, 2024
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