By Robert Barba
Colgate-Palmolive Co. reported results for the latest quarter that beat expectations as demand for its products remained high amid the coronavirus pandemic.
The consumer products company reported net income for the third quarter of $698 million, or 81 cents a share, compared with $578 million, or 67 cents a share, a year earlier.
Adjusted earnings were 79 cents a share. Analysts polled by FactSet expected adjusted earnings of 70 cents a share.
Net sales were $4.15 billion compared with $3.93 billion a year earlier. The company said organic sales, which excludes the effects of foreign exchange and acquisitions, increased 7.5%.
Analysts expected sales of $4 billion.
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(END) Dow Jones Newswires
October 30, 2020 07:39 ET (11:39 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.