Procter & Gamble profit falls on one-time charges

NEW YORK (MarketWatch)
Procter & Gamble Co. said Friday its second-quarter profit fell 49% to $1.69 billion, or 57 cents a share, from $3.33 billion, or $1.11 a share, in the year-ago period
Core earnings of $1.10 a share fell from the year-ago level of $1.13
The latest core earnings figure excluded one-time items, including a charge of 50 cents a share for costs associated with its appliances and salon professional units
The Cincinnati household product giant's sales rose 4% to $22.14 billion. 
Wall Street analysts expected Procter & Gamble to earn $1.07 a share on revenue of $22.18 billion, according to a survey by FactSet Research
Looking ahead, Procter & Gamble expects core earnings of $4. to $4.10 a share, below the analyst target of $4.33 a share