Procter & Gamble beats estimates as sales jump 9%, raises forecast amid strong demand
Another company that is benefiting from people working from home. Uncle Sam is suing Google. We will get to that. We're going to start with consumer staples. Procter and gamble sales in the first quarter rose nine percent. The company raised revenue guidance for the full fiscal year and shares a proctor and up around one and a half percent, which is not a lot but just enough. That that sock is hitting an all time high. Yeah Outstanding Quarter largely of margin story on the outstanding part. Know, they sold seven percent more in terms of volume about nine percent total. So that's not extraordinary but it's it's good in this. In this economy, people are cleaning both their their homes and their themselves more actually and who the thing that proctor and gamble has going for it is that it is I think the best margin quarter that I could find a over the last fifteen years. So it is not forced into discounting right now the. Promotional sales at it has to make people are still going to the stores painful price for a lot of a lot of their goods, and they are not in the position where they have to raise salaries the moment or. You know they've done very well at keeping costs down so Between those two being able to charge what they want to charge for their products. And doing it more efficiently. A great quarter. Greg, quarter and if they're not spending more money on salaries John Muller, the operating officer and the CFO. Admitted very clear. They are going to be spending more on marketing because they. Look at the current environment. Look proctor and gamble they sell stuff all around the world but North America is their biggest market and I think they're looking at the numbers of how many people are. Spending time on screens. And they're saying to themselves. Yeah it is a good investment for us to. Start ramping up our marketing. Yeah they are spending a lot of time on screens not necessarily. On the screens and where the ads traditionally been, which would be TV ads more people are. Watching watching Netflix, watching things on the video recordings and just skipping through the AD. So it's more and more online. Advertising and. More is coming a sense everybody. Will Be. locked inside for. Another couple of quarters.