P&G reports Q1 profit that matches analysts’ estimates

PROCTER & Gamble, the world’s largest consumer-products company, reported first-quarter profit that matched analysts’ estimates as price increases and gains in emerging markets helped sales top projections.

Net income in the three months to the end of September fell to $3.02 billion (€2.15bn) from $3.08 billion a year earlier.

On a per share basis, profit rose to $1.03 because of a decrease in the number of outstanding shares, matching Bloomberg estimates.