CONSUMER PRODUCTS
P&G; Net Rises 17% in Quarter, Stock Tumbles: Although Procter & Gamble Co.’s quarterly increase was a shade above expectations on Wall Street, the drop in stocks was attributed to investor worries that sluggish sales would constrain earnings growth. Cincinnati-based P&G;, the largest U.S. consumer products company, said net earnings rose to $554 million, or 77 cents a share, in its fourth quarter ended June 30, compared with $472 million, or 65 cents a share, in the comparable 1995 quarter. P&G; stock lost $2.875 to close at $87.875 in active trading on the New York Stock Exchange. Sales edged up 1% to $8.58 billion in the quarter from $8.5 billion in the 1995 period. “Investors are reacting to the 1% sales growth,” said Morgan Stanley Inc. industry analyst Brenda Landry.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.