CINCINNATI (AP) — Procter & Gamble says its net income rose 6 percent in the fiscal third quarter, as the company cut costs, but revenue fell short of analyst expectations.
The Cincinnati-based company's products range from Tide detergent to Crest toothpaste and Gillette razors. It is facing a weakened European economy and slowdown in China.
The world's largest consumer product maker says net income for the January-to-March quarter rose to $2.57 billion, or 88 cents per share. That compares with net income of $2.41 billion, or 82 cents per share last year.
Excluding restructuring charges and related to the devaluation of the Venezuelan currency, earnings totaled 99 cents per share. Analysts expected 96 cents.
Revenue rose 2 percent to $20.6 billion. Analysts expected $20.72 billion.
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