“Procter & Gamble revenue and profit fall as company looks to higher prices to offset declining sales”
January 19, 2023
“…For the three-month period ended Dec. 31, the company reported net income of $3.9 billion, or $1.59 per share, excluding items, down from $4.22 billion, or $1.66 per share, a year earlier.
Net sales fell to $20.77 billion, a 1% decrease from the previous year, which topped analyst’s projections of $20.73 billion.
The company’s organic revenue, which excludes the impact of foreign currency, acquisitions and divestitures, increased 5% during the fiscal second quarter. That rise was a result of higher pricing, which outweighed shrinking consumer demand.
All of the company’s divisions reported declining sales volume in the quarter, despite seeing increases in organic sales as a result of higher pricing…”
https://www.cnbc.com/2023/01/19/procter-gamble-pg-earnings-q2-2023.html