Unravelling the Enigma: Procter & Gamble's Q3 FY24 Performance and the Unexpected Stock Market Reaction

Unravelling the Enigma: Procter & Gamble's Q3 FY24 Performance and the Unexpected Stock Market Reaction
Unravelling the Enigma: Procter & Gamble's Q3 FY24 Performance and the Unexpected Stock Market ReactionImage by is licensed under
  • Procter & Gamble exceeded forecasts with 6.1% YoY sales growth and greater than expected EPS in Q3 of FY24.
  • Despite positive news, the company’s shares declined by 0.4%, prompting an analysis to understand the paradoxical market reaction.

Investors have been scratching their heads at the surprising case of Procter & Gamble Co (NYSE: PG) which, despite trumping expectations with its Q3 earnings for FY24, saw its shares decline by 0.4% to $148.48 on the day of announcement.

The Cincinnati-based multinational presented a robust 6.1% YoY sales growth, reporting $21.87 billion for Q3 FY24, which surpassed the consensus estimate of $21.67 billion. Its adjusted earnings per share (EPS) also beat the market expectation, recording $1.83, signifying a 17% YoY increase.
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