Quarterly profit up 45% at Procter & Gamble

8/4/2012

CINCINNATI -- Procter & Gamble Co. reported Friday that profit rose 45 percent to $3.6 billion, or $1.24 a share, in its April-to-June fiscal fourth quarter, up from $2.51 billion, or 84 cents a share last year. That includes 48 cents a share from the sale of its snacks business.

Revenue slipped to $20.2 billion from $20.5 billion.

The Cincinnati-based maker of Tide detergent, Crest toothpaste, and other consumer goods also said Friday that it plans to buy back $4 billion in shares this fiscal year.

That's a reversal from June, when the company said it did not plan any share repurchases.