Tide owner Procter & Gamble cuts earnings, revenue outlook as quarterly sales disappoint

Core Viewpoint - Procter & Gamble reported mixed quarterly results, with a decline in product demand leading to a reduction in its full-year forecast for core earnings per share and revenue [1][4]. Financial Performance - The company reported a third-quarter net income of $3.77 billion, or $1.54 per share, which is an increase from $3.75 billion, or $1.52 per share, a year earlier [1]. - Net sales decreased by 2% to $19.78 billion [2]. - Earnings per share of $1.54 exceeded the expected $1.53, while revenue of $19.78 billion fell short of the expected $20.11 billion [4]. Market Reaction - Following the earnings report, shares of Procter & Gamble fell by 2% in premarket trading [1].