Colgate-Palmolive Co's quarterly profit rose more than expected, as cost-cutting helped offset the impact of weaker consumer spending and the stronger U.S. dollar.
The maker of toothpaste, dish soap and other household goods also said on Thursday that it was comfortable with analysts' profit expectations for the current third quarter and full year.
Second-quarter profit climbed to $561.6 million, or $1.07 per share, from $493.8 million, or 92 cents per share, a year earlier. Analysts on average expected $1.05 per share, according to Reuters Estimates.
Colgate has held up relatively well in recent months as consumers have started to restock their pantries with basics. It also has a narrower focus than rivals such as Procter & Gamble Co , which have felt pressure from lower-priced competitors in areas such as paper products, where Colgate does not compete.
Sales fell 5.5 percent to $3.75 billion, weighed down by the stronger U.S. dollar, which cuts into international revenue. The volume of goods sold fell 1.5 percent.
Chief Executive Ian Cook said he was comfortable with external profit expectations for the third quarter and the year. Analysts on average expect Colgate to earn $1.09 per share this quarter and $4.25 this year.
(Reporting by Jessica Wohl; Editing by Lisa Von Ahn)