"P&G's Revenue Boosted by Price Hikes Despite Earnings Setback"

Procter & Gamble's stock jumped 5% after reporting its fiscal second-quarter results, with net sales of $21.4 billion, up 3% year over year, driven by higher prices but offset by a 1% decrease in shipment volumes. Diluted earnings per share fell 12% due to a $1.3 billion impairment charge related to its Gillette business, but without this charge, EPS would have been up 16%. The company maintained its full-year net sales guidance but lowered its diluted EPS growth outlook. Despite slow growth, P&G plans to return billions to shareholders in 2024 through dividends and stock repurchases.