Procter & Gamble Co (NYSE: PG) in the third quarter has reported the adjusted earnings per share of $0.96, beating the analysts’ estimates for the adjusted earnings per share of $0.94. On the other hand, the company had reported that their adjusted revenue fell by 1 percent to $15.61 billion in the third quarter, missing the analysts’ estimates for revenue of $15.731 billion. This was down from $15.76 billion last year due to a backdrop of geopolitical challenges and marking the thirteenth consecutive quarter of declines. PG’s quarterly sales have fallen for more than three years due to the company cutting its brand portfolio. There is a slowdown in total market growth and a stronger U.S. dollar, which resulted in the company’s 8.3 percent drop in third-quarter profit.

However, the organic sales grew 1%, due to a 1% increase in organic shipment volume, as pricing and it sales mix had no net impact on quarterly sales. Moreover, the company has been selling off unprofitable brands and focusing on core brands such as Tide and Pampers to revive sluggish sales. It is reshuffling its portfolio lately, eliminating more than 40 unprofitable brands such as Clairol and Wella in a $12.5 billion deal in October, and planning to save as much as $10 billion in costs over the next five years. PG will use the major part of the savings to improve packaging, research and development, and sales coverage.

Additionally, Procter & Gamble has increased its forecast for adjusted free-cash-flow productivity in 2017, to 95 percent from 90 percent. The company maintains its forecast for organic sales growth in the range of two to three percent for the full year 2017. PG also expects in 20117, the mid-single-digit rise in full-year 2017 adjusted earnings per share growth.

In addition, Procter & Gamble has posted 6 percent fall in the organic sales in the company’s grooming segment, marking the division with the largest decline for the period due to the lower volume and reduced pricing in shave care. The beauty segment organic sales grew 1 percent from one year ago, while health-care sales as increased 6 percent. The gains in the company’s health-care segment were driven by greater volume in oral care, along with innovation on power toothbrushes.

Procter & Gamble stock has risen 11.18% in the last one year (source: Google Finance). The stock lost over 0.7% on the pre-market session today (as of  8:55AM EDT  on April 26th, 2017; Source: Google finance)