P&G reports mixed results as higher prices offset commodity costs

Procter & Gamble on Friday reported mixed quarterly as the consumer products giant hiked prices in the face of rising commodity costs.

Shares of the company were down about 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Earnings per share: $1.21 adjusted vs. $1.22 expected
• Revenue: $19.52 billion vs. $19.4 billion expected

P&G reported fiscal fourth-quarter net income attributable to the company of $3.05 billion, or earnings per share of $1.21, up from $2.9 billion, or $1.13 per share, a year earlier.

Net salesrose 3% to $19.52 billion.