P&G Beats Estimates Despite Rising Middle East Costs
Procter & Gamble reported quarterly sales of $21.24 billion today as demand for premium beauty items grew. Higher oil prices will likely impact annual profits.
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PROCTER & GAMBLE CO/THE has reported third-quarter financial results that exceeded market expectations, driven by resilient demand for premium beauty and personal care products. Despite the strong performance, the consumer goods giant issued a warning regarding a $150 million headwind to its annual profit caused by rising input costs linked to ongoing geopolitical instability in the Middle East.
