April 19, 2018 / 11:10 AM / a month ago

P&G's quarterly sales beat estimates

April 19 (Reuters) - Procter & Gamble Co reported better-than-expected quarterly revenue on Thursday, boosted by strong sales in its beauty, and fabric and homecare businesses.

Earlier in the day, P&G agreed to buy the consumer health business of Merck KGaA for about 3.4 billion euros ($4.2 billion), giving its vitamin brands such as Seven Seas and greater exposure to Latin American and Asian markets.

Net income attributable to the company fell to $2.51 billion, or 95 cents per share, in the third quarter ended March 31, compared with $2.52 billion, or 93 cents per share, a year earlier.

Net sales for the world’s largest consumer products maker by market value rose 4.3 percent to $16.28 billion, compared to analysts’ estimate of $16.21 billion, according to Thomson Reuters I/B/E/S. (Reporting by Vibhuti Sharma in Bengaluru Editing by Supriya Kurane)

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