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Procter & Gamble profit more than doubles

NEW YORK (MarketWatch)
 Procter & Gamble Co. said Friday its second-quarter profit more than doubled to $4.06 billion, or $1.39 a share, from $1.69 billion, or 57 cents a share, in the year-ago period
The household product maker's adjusted, or core, earnings rose to $1.22 a share from $1.09 a share
Sales for the quarter ended Dec. 31 increased by 2% to $22.18 billion
Wall Street analysts expected Procter & Gamble to earn $1.11 a share on revenue of $21.9 billion, according to a survey by FactSet
Looking ahead, P&G raised its fiscal 2013 adjusted profit view to $3.97 to $4.07 share, from its earlier estimate of $3.80 to $4 a share
Analysts have estimated 2013 earnings of $3.97 a share
"Our second quarter results were at the high end of our expectations," the company said
The company also plans to buy back $5 billion to $6 billion in stock in 2013, up from its earlier forecast of $4 billion to $6 billion
"Global market share trends improved as we continued to implement our growth strategy and made very good progress against our productivity and cost savings goals," the company said
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