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Colgate-Palmolive: 3Q Earnings Snapshot

Associated Press
Updated

NEW YORK (AP) _ Colgate-Palmolive Co. (CL) on Friday reported third-quarter net income of $578 million.

On a per-share basis, the New York-based company said it had profit of 67 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 71 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The consumer products maker posted revenue of $3.93 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.96 billion.

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Colgate-Palmolive shares have risen 15% since the beginning of the year, while the Standard & Poor's 500 index has increased 21%. The stock has climbed 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CL at https://www.zacks.com/ap/CL