This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
P&G Shares Higher Again on Thursday
Following a 1.7% rally yesterday, shares in Procter & Gamble (the largest global producer of consumer goods) are trading higher by 1.69% pre-market on Thursday.
The US company has enjoyed bumper gains this year, with its share price rally by roughly 50% from the year to date lows. Procter & Gamble shares were quick to recover from the lows recorded during the height of the COVID-19 pandemic, boosted by a solid set of Q2 earnings.
Procter & Gamble posted Q2 earnings per share of $1.07, beating estimates of a $1.01 reading. While earnings were higher over the quarter, revenues actually undershot expectations. They missed forecasts for the first time in five quarters. In sum, revenues were seen at $18.24 billion, less than the $18.37 billion forecasted.
Challenges Ahead But Progress Noted
Commenting on the quarter, Procter & Gamble CFO Jon Moeller said:
“We continue to face the challenges of a very volatile macro and geopolitical lan...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.