View source for Procter and Gamble posts 35 earnings jump

� Getty/AFP  [http://m88bt.com/ m88bet] Joe RaedleThe maker of Tide detergent reports a jump in second quarter earningsNew York (AFP) - US consumer products giant Procter and Gamble reported a jump in second-quarter earnings Tuesday, despite a strong dollar that continued to depress the value of foreign sales.<br>Net income of $3.21 billion was up 35.1 percent from the year-ago period as the company cut costs and focused on products with higher profit margins.<br>Adjusted earnings were $1.12 per share, a gain of 37 percent and solidly beating the 98 cents projected by analysts.<br>Revenues slumped nine percent to $16.9 billion in the quarter ended in December, mainly due to the impact from the stronger dollar. The sales number was in line with expectations.<br>But stripping out the foreign exchange factor and investments and divestitures, so-called "organic" sales increased two percent. <br>"We are encouraged by our return to organic sales growth in the quarter," said David Taylor, the company's new president and chief executive, in a statement.<br>"With the top-line improvement and continued cost reduction, we delivered solid core operating income and EPS growth in the face of significant macroeconomic and geopolitical headwinds."<br>The maker of Tide detergent, Crest toothpaste and Pampers diapers said it had bought back $2.0 billion of common stock and paid $1.9 billion in dividends to shareholders in the quarter.<br>Shares in Dow member P&G rose 1.1 percent to $70.70 in pre-market trade.<br><br><br><br><br>More from AFP:<br><br>Greek parliament approves controversial new bailout measures: AFP<br><br>Colombia: Cartagena prepares to receive Garcia Marquez's ashes<br><br>British director Ken Loach wins Cannes top prize Palme d'Or<br><br>Romania's Mungiu and France's Assayas share best director prize at Cannes<br><br>Jaclyn Jose of the Philippines wins best actress at Cannes for 'Ma' Rosa'<br><br>If you are you looking for more in regards to [http://m88bt.com/ m88bet] review the internet site.