Procter & Gamble earnings beat estimates, but weak demand in China hurts sales

Procter & Gamble reported weaker revenue due to lower demand in China, causing shares to fall 1%. The company’s earnings per share were higher than expected at $1.93 adjusted. Revenue was slightly below expectations at $21.74 billion. Despite a 1% drop in net sales, organic revenue increased by 2% due to higher prices. Demand for P&G products in the US improved, but China saw volume declines, especially in the beauty and baby care segments. P&G remains cautious about the weak market and expects it to persist for several quarters. The company reiterated its fiscal 2025 forecast with expected earnings per share and revenue growth.