P&G told PRWeek it is shifting more advertising to digital media where consumers are spending more of their time. A spokesperson said: "We see a significant opportunity in agency spending, which includes fees and production costs for agencies we use ...
P&G reported fiscal fourth-quarter earnings of $1 per share on revenue of $17.79 billion. Wall Street was expecting a profit of 95 cents a share on revenue of $17.98 billion, according to analysts polled by Thomson Reuters.
P&G spent about $80 billion over the past two decades scooping up brands including Gillette razors, Duracell batteries and Iams pet food, only to end up selling some of them to focus on boosting sales of Tide detergent, Pampers diapers and other mainstays.
"We rate PROCTER & GAMBLE CO (PG) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover.