Procter & Gamble on Wednesday raised its outlook for the second consecutive quarter after its revenue rose 8%, fueled by higher demand for its cleaning products and shaving and styling products as the pandemic continues to guide consumer behavior.
The Tide owner now expects sales growth of 5% to 6% in fiscal 2021, up from its prior outlook of 3% to 4% growth. It’s also forecasting that its adjusted earnings will rise 8% to 10%, up from the previous target of 5% to 8%.
Shares of the company jumped more than 1% in premarket trading.
Here’s what the company reported for the quarter ended Dec. 31 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: