P&G, Coca-Cola report higher quarterly profits

MG News | April 23, 2019 at 06:10 PM GMT+05:00

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April 23, 2019: Procter & Gamble and Coca-Cola reported higher quarterly profits on Tuesday, lifted by premium consumer items at Procter and new beverage offerings at Coca-Cola.

P&G, whose brands include Bounty paper towel and Crest toothpaste, reported profits of $2.7 billion in its fiscal third-quarter, up 9.3 percent from the year-ago period.

Revenues rose 1.1 percent to $16.5 billion.

P&G scored a solid five percent increase in "organic" sales, which strips out foreign exchange effects and divestitures.

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