Colgate-Palmolive shares decline 2% after Q1 revenue miss

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Colgate-Palmolive Co.

CL, +0.27%

shares declined 2% in premarket commerce Friday after the corporate reported a first-quarter revenue beat and revenue miss. Earnings for the most recent quarter rose to $634 million, or 72 cents per share, from $570 million, or 64 cents per share. Adjusted earnings-per-share had been 74 cents, in contrast with the FactSet adjusted earnings-per-share consensus of 73 cents. Revenue rose to $four.002 billion from $three.762 billion, in contrast with the FactSet consensus of $four.019 billion. Global oral, private and residential care gross sales got here in beneath expectations, at $three.418 billion in contrast with the FactSet consensus of $three.443 billion, whereas pet vitamin gross sales met the FactSet consensus of $584 million. The newest outcomes had been negatively affected by flat unit quantity progress in rising markets, Colgate-Palmolive Chief Executive Ian Cook mentioned, although worldwide pricing has improved because the fourth quarter. Company shares have dropped 9.5% during the last three months, in contrast with a 7.2% drop within the S&P 500

SPX, +1.04%

and a eight.6% drop within the Dow Jones Industrial Average

DJIA, +0.99%

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