Business

Market Movers

Procter & Gamble fiscal 2Q profit jumps

In addition to Dawn, P&G’s products include Charmin and Boston-based Gillette.
Gerry Broome/AP/File
In addition to Dawn, P&G’s products include Charmin and Boston-based Gillette.
Advertisement

Procter & Gamble, the world’s largest consumer goods company, reported that its fiscal second quarter profit more than doubled as the plan the company launched last year to lower costs and roll out new products boosted its bottom line. It is the second quarter in a row that P&G beat Wall Street estimates. P&G in recent years has lost business to rivals as it grew too fast overseas and kept prices high. In the period, P&G earned $4.06 billion, or $1.39 per share, up from $1.69 billion, or 57 cents, in the same quarter last year.