NEW YORK (CNNfn) - Dow component Procter & Gamble Co. reported a strong jump in fiscal first-quarter operating earnings, matching Wall Street forecasts.
The maker of Tide detergent, Crest toothpaste and Pringles potato chips earned $1.27 billion, or 88 cents per diluted share, excluding restructuring charges, for the latest three months. That compares with per-share earnings of 80 cents a year earlier and matches the First Call consensus estimate to the penny.
Including $120 million in restructuring costs, net income dropped to $1.15 billion, or 80 cents per share, flat compared with last year.
Net sales rose 4 percent to $9.9 billion.
Shares in Cincinnati-based P&G (PG) rose 1-11/16 to 100-15/16 in early Thursday trading.