Procter & Gamble quarterly sales below estimates

Procter & Gamble Co reported lower-than-expected quarterly sales on Tuesday, due to a disappointing performance at the unit that makes Gillette razors and shaving products, sending the company’s shares down 1.5 percent before the bell.

Net income attributable to the company fell to $1.89 billion, or 72 cents per share, in the fourth quarter ended June 30, compared with $2.22 billion, or 82 per share, a year earlier.

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Net sales rose to $16.50 billion from $16.08 billion. Analysts had forecast sales of $16.54 billion, according to Thomson Reuters I/B/E/S.