P&G Earnings Met Expectations. Why the Stock Is Falling.

Procter & Gamble

shares were sliding Thursday after the consumer goods giant posted second-quarter earnings that matched analysts’ expectations, while gross margins declined largely due to higher costs.

The consumer goods giant posted net sales of $20.8 billion and diluted earnings of $1.59 per share, while analysts anticipated $20.7 billion and $1.59 per share, according to FactSet.