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00:02Procter & Gamble beat quarterly earnings and revenue expectations
00:06as demand for its laundry detergent and home care products grew, according to CNBC.
00:12The consumer goods giant reported fiscal first quarter adjusted earnings of $2 per share
00:18on revenue of $23.3 billion, beating analysts' expectations of $1.88 per share and $22.8
00:27billion in revenue. Net sales increased 4%, while overall sales volume grew 2.4%.
00:33The company's fabric and home care division led growth with a 4.3% volume increase,
00:39driven by demand for laundry detergent and fabric enhancers.
00:43Healthcare volume declined 2.9%, while grooming volume fell 0.4%.
00:49The company continues to see high-income consumers purchasing premium products,
00:53while lower-income shoppers stretch their budgets.
00:55P&G raised its fiscal 2027 sales growth forecast to 2% to 4%,
01:01and reaffirmed its core earnings guidance of $6.89 to $7.11 per share.
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