Consumer products maker Procter & Gamble Co. said Tuesday its second-quarter profit jumped 12 percent, driven by solid sales of Gillette razors and Tide detergent.
The company posted net income of $2.86 billion, or 84 cents per share, in the three months ended Dec. 31 versus $2.55 billion, or 72 cents per share, in the prior-year period.
Rival Colgate-Palmolive Co., maker of toothpaste, soaps and Science Diet pet food, said its fourth-quarter profit rose 11 percent as revenue increased across divisions.
Net income at the world’s largest toothpaste maker rose to $401.2 million, or 73 cents per share, compared with $361.2 million, or 65 cents per share, a year ago.
Revenue grew 8 percent to $19.73 billion from $18.3 billion in the year-ago quarter.
Analysts polled by Thomson Financial expected the company to post earnings, on average, of 83 cents per share on $19.57 billion in revenue.
The company said sales were led by double-digit increases in its Blades & Razors and Fabric Care & Home Care segments, including products such as the Gillette Fusion razor, Tide Simple Pleasures detergent, Febreze Noticeables, Olay Definity and Pantene Color Expressions hair care products.