Procter & Gamble says its fiscal second quarter net income more than doubled and is boosting its profit outlook as the maker of Tide and Pampers takes back market share.
For the October-through-December quarter, the world's largest consumer products maker earned $4.06 billion, or $1.39 per share, up from $1.69 billion, or 57 cents per share, in the same quarter last year.
Excluding items, it earned $1.22 per share. Revenue increased 2 percent to $22.18 billion.
Analysts polled by FactSet expected earnings of $1.11 per share on $21.86 billion in revenue.
The Cincinnati-based company says it now expects fiscal 2013 earnings of $3.97 to $4.07 per share. Analysts expect $3.97.
P&G shares are up $1.38, or 2 percent, to $71.80 in premarket trading