Procter & Gamble Co's
Excluding charges, core earnings per share fell 3 percent to $1.10, as sales growth and cost cuts were not enough to offset double-digit increases in commodity costs. The profit came in ahead of analysts' average forecast of $1.08 per share, according to Thomson Reuters I/B/E/S.
P&G earned $1.69 billion, or 57 cents per share, in the second quarter ended in December, down from $3.33 billion, or $1.11 per share, a year earlier.
Sales rose 4 percent to $22.14 billion.
Organic sales, which strip out the impact of acquisitions, asset sales and currency fluctuations, rose in each business unit and were up 4 percent overall.
The volume of goods sold rose 1 percent, with strong growth in developing markets overtaking a decline in volume in developed regions.
For the fiscal year ending in June, P&G forecast core earnings of $4.00 to $4.10 per share, down from a prior forecast of $4.15 to $4.33 per share due largely to foreign exchange.
It said fiscal 2012 sales should rise 3 percent to 4 percent on a net basis and 4 percent to 5 percent on an organic basis.
Its shares were down 5 cents at $64.75 in premarket trading, after closing at $64.80 on the New York Stock Exchange on Thursday.
(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn and Derek Caney)