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Procter & Gamble profit misses consensus by 21.2% in fiscal Q1

Procter & Gamble Co. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 85 cents per share, compared with the S&P Capital IQ consensus estimate of $1.07 per share.

EPS rose year over year from 81 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.44 billion, an increase from $2.36 billion in the prior-year period.

The normalized profit margin fell to 11.5% from 11.7% in the year-earlier period.

Total revenue climbed on an annual basis to $20.79 billion from $20.17 billion, and total operating expenses climbed from the prior-year period to $16.72 billion from $16.20 billion.

Reported net income fell 32.1% from the prior-year period to $1.97 billion, or 68 cents per share, from $2.90 billion, or 99 cents per share.