(Reuters) – Procter & Gamble missed Wall Street expectations for first-quarter sales on Friday, as consumers in its major markets, the U.S. and China, switched to cheaper household and personal care brands.
The company’s first-quarter net sales fell to $21.74 billion from $21.87 billion a year earlier. Analysts had expected $21.91 billion, according to LSEG data.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli)
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