Procter & Gamble's Net Sales Drop 4 Percent In 2Q FY2015

Procter & Gamble Co. said net sales declined 4 percent to $20.2 billion in the second quarter of its fiscal year 2015, compared with the same period in the previous year. Foreign exchange fluctuations had a negative 5 percent impact on revenue in the October‒December quarter. Organic sales rose 2 percent, with four of five reporting segments showing growth, the company said. Core earnings per share dropped 8 percent to $1.06, compared with the previous year. Operating cash flow was $3.4 billion for the quarter and the company returned $3.7 billion in cash to shareholders, including $1.8 billion in dividends and $1.9 billion of common stock buybacks.