Procter & Gamble reported quarterly earnings that beat Wall Street's estimates, but its sales disappointed.The company's quarterly volume was flat for the second consecutive quarter.
Net sales rose 1% to $20.41 billion. Organic sales, which strips out acquisitions, divestitures and foreign currency, increased 3% in the quarter. However, three of P&G's divisions reported volume growth for the quarter. Its beauty segment, which includes Olay and Pantene, saw volume rise 1%, fueled by innovation in personal care. The company's grooming business, home to its Gillette and Venus razors, reported volume growth of 2%. And fabric and home care, which includes Febreze and Swiffer, saw 1% volume growth.