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P&G’s Net Soars in Q4

Revenue dips 1.2% to $20.2 billion.

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By: TOM BRANNA

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Procter & Gamble Co. (NYSE:PG) reported fourth quarter net income far above Wall Street’s expectations. Net income jumped 74% to $3.63 billion, as revenue fell 1.2% to $20.2 billion. “We enter fiscal 2013 with very strong developing market momentum, strengthened plans on our core developed market business, and with the benefit of a $10 billion cost savings program, which is well underway,” said Chairman, President and Chief Executive Officer Bob McDonald. “Despite a difficult macro e...

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