The Procter & Gamble Co.’s lower second-quarter earnings came in ahead of Wall Street estimates as its Beauty unit logged higher profits despite a decline in revenues.
In the three months ended Dec. 31, the Cincinnati-based consumer products giant recorded net income of $3.43 billion, or $1.18 a diluted share, 15.5 percent below the $4.06 billion, or $1.39, recorded in the year-ago period. Adjusted EPS, eliminating the effects of restructuring efforts, was $1.21, 1 cent better than the consensus estimate of analysts. Revenues rose 0.5 percent to $22.28 billion, just below the $22.33 billion expected by analysts.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"