Procter & Gamble posted better-than-expected Q2 results and, for the second straight quarter, lifted its outlook for 2021.

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The Procter & Gamble Company (PG) shares, up 3.72 percent over the past 12 months, slight down on Thursday at the close of the trading session. Despite the multinational consumer goods leader beat analysts’ earnings forecast summing up the first half of fiscal 2021 on Wednesday, its stock price almost stable losing just 0.70% on Thursday to conclude the session at $131.01.

One of the survivors of the worldwide COVID-19 pandemic has been Procter & Gamble, which has caused millions of people to spend more time at home. In the three months ended December 31, sales of P&G’s Fabrics and Home Products division raised the most, to 12 percent.

P&G posted a 15 percent rise in per-share second-quarter earnings to $1.64, up to $0.13 from the $1.51 forecast of analysts. Earnings totaled $3.85 billion, up from $3.72 billion a year earlier.

Net quarterly profits rose 8 percent to $19.7 billion from a year before, exceeding Wall Street’s expectations of $19.27 billion as well.

The “Fabrics and household goods” section reported the highest 12 percent growth in revenue because of a 30 percent rise in market demand for household cleaning materials, dishes, and surfaces.

The “Health Care” division, which includes sales of personal care products, reported 9 percent growth; in the “Care” (shaving and styling products) and “Children’s, women’s and family care” segment, 6 percent sales growth was observed. Compared to last year, revenues in the cosmetics segment grew by 5 percent. The company’s management listed among the key factors for the rise in sales.

Over the last year, Procter & Gamble’s net cash flow was high: $5.4 billion. The company returned $5 billion in cash to shareholders in the form of a dividend payout of $2 billion and a repurchase of ordinary stock of $3 billion.

P&G has again increased its revenue growth outlook: from 3% – 4% to 5% – 6% in fiscal 2021, and relative to the previous estimate of 5% to 8% diluted EPS is projected to rise in the range of 8% to 10%.

The Procter & Gamble Company (PG) has also raised its outlook for common share repurchases from a total of $7 to $9 billion for up to $10 billion. And it plans to pay nearly $8 billion in dividends for the financial year 2021.

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