Procter & Gamble Reports Slight Sales Gain, Huge Jump In Earnings For October–December 2012 Quarter

Procter & Gamble reported net sales grew 2 percent to $22.2 billion in the October–December 2012 quarter compared with the same period of the previous year. Earnings per share rose 12 percent to $1.22, while diluted net earnings per share increased 144 percent to $1.39. Also, the company said it grew or held market share in market segments that accounted for almost 50 percent of sales during the quarter. Core operating profit grew 7 percent, while reported operating, which includes non-core charges, rose 68 percent. P&G also reported operating cash flow reached $3.8 billion; the company repurchased $1.4 billion worth of shares and paid $1.6 billion in dividends to shareholders.