- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
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- On remote Greek island, migratory birds offer climate clues
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- China cuts amount banks hold in reserve to boost lending
- Hong Kong, Shanghai extend surge as China optimism boosts markets
- Vietnam president reiterates support for Cuba during official visit
- Drought reduces Amazon River in Colombia by as much as 90%: report
- Stay or go? Pacific Islanders face climate's grim choice
- Florida bracing for 'unsurvivable' Hurricane Helene
- Poverty rises to over 52 percent in Milei's Argentina
- Chloe's see-through look may not be for Kamala Harris
- Champagne houses abuzz over English sparkling wine
- Macron, Trudeau pledge to work for 'decarbonized' economies
- Hurricanes, storms, typhoons... Is September wetter than usual?
- China stimulus, tech optimism boost stock markets
- 'Unsurvivable' Hurricane Helene races towards Florida
- Macron meets Trudeau in Canada as both face political setbacks
- South Korea surges in UN innovation index
- Chloe's see-through look may not be for Kamala
- Floods threaten Niger's historic 'gateway to the desert'
- China economy hopes boost global equities
- Ubisoft shares sink after 'Assassin's Creed' delay
- German economy to shrink again in 2024: think tanks
- Hong Kong's New World Development replaces CEO Adrian Cheng
- Swiss central bank cuts rate again amid strong franc worries
- Germany's BASF to focus on 'core units' in major overhaul
- China admits economy facing new 'problems', vows to fix property sector
- Stock markets boosted by China hopes, tech rally
P&G profits up on strong consumer demand, higher pricing
Procter & Gamble raised its full-year forecast Wednesday as robust consumer demand enabled the company to notch higher sales even as it increased prices on consumer goods.
The maker of Tide detergent and Bounty paper towels, P&G saw a six percent jump in net sales in the quarter, with half of the increase coming from volume and half from higher prices taken to offset increased commodity costs.
"We are taking pricing generally," said P&G Chief Financial Officer Andre Schulten on a conference call with reporters, adding that "we've seen a good pass through of pricing" with retailers.
P&G highlighted strength in several premium items, such as teeth whitening goods and higher-priced grooming items.
A "more intense" flu season has increased demand for products to treat cold and cough symptoms, while cleaning supplies have continued to sell well during the pandemic, P&G said.
Net income for the quarter was up 10 percent at $4.2 billion on a six percent increase in revenues to $21 billion.
"We delivered very strong top-line growth and made sequential progress on earnings in the face of significant cost headwinds," said Chief Executive Jon Moeller.
"These results keep us on track to deliver our earnings outlook and to raise estimates for sales growth, cash productivity and cash return to shareowners."
Shares rose 0.8 percent to $158.00 in pre-market trading.
O.Ignatyev--CPN