Shares of Procter & Gamble Co. fell 1.2% in premarket trade Friday, after the consumer products company reported fiscal first-quarter profit that rose above expectations but revenue that came up a bit shy. Net income for the quarter to Sept. 30 increased to $2.85 billion, or $1.06 a share, from $2.71 billion, or 96 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.09, above the FactSet consensus of $1.08. Revenue grew 1% to $16.65 billion, just below the FactSet consensus of $16.69 billion. Of the company’s largest business segments, revenue from fabric & home care and beauty beat expectations, while baby, feminine & family care missed. The company affirmed its full-year guidance for organic sales growth of 2% to 3% and for core EPS growth of 5% to 7%. The stock has gained 8.9% year to date through Thursday, while the SPDR Consumer Staple Select Sector ETF has tacked on 4.5% and the Dow Jones Industrial Average has climbed 17.2%.
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