The Procter & Gamble Co says profit dropped slightly in its first quarter, as consumers around the world kept tight reins on spending for such household items as laundry detergent and shavers.
But the world's largest consumer products company sees signs of a rebound in results that were better than expected, and a better sales outlook for the rest of the year.
The maker of Tide and Pampers reported profits were off 1 per cent at $US3.35 billion ($A3.73 billion), or $1.06 per share, compared to $US3.31 billion ($A3.68 billion), or $1.03 per share, a year ago. Sales fell 6 per cent to $US19.8 billion ($A22.03 billion).
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Analysts expected earnings of 99 cents on $US19.83 billion ($A22.07 billion) for P&G, which is based in Cincinnati.
AP
