Procter & Gamble Co. Q1 Profit Falls 2%

(RTTNews) - Procter & Gamble Co. (PG) released earnings for first quarter that retreated from last year.

The company said its bottom line dropped to $2.83 billion, or $0.98 per share. This was lower than $2.89 billion, or $0.99 per share, in last year's first quarter.

Analysts had expected the company to earn $0.95 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 11.9% to $16.53 billion. This was down from $18.77 billion last year.

Procter & Gamble Co. earnings at a glance:

-Earnings (Q1): $2.83 Bln. vs. $2.89 Bln. last year. -Earnings Decline (Y-o-Y): -2.1% -EPS (Q1): $0.98 vs. $0.99 last year. -EPS Decline (Y-o-Y): -1.0% -Analysts Estimate: $0.95 -Revenue (Q1): $16.53 Bln vs. $18.77 Bln last year. -Revenue Change (Y-o-Y): -11.9%

-Guidance: Full year EPS guidance: $3.76