P&G cites rocky geopolitics as earnings decline

Procter & Gamble reported declines in both sales and profits Wednesday, saying challenging geopolitical and economic conditions hit consumer demand.

The maker of Tide detergent and Head & Shoulders shampoo reported earnings in its fiscal third-quarter of $2.5 billion, down 8.3 percent.

Revenues were $15.6 billion, down 1.0 percent.

"The third quarter macro environment was characterized by a slowdown in market growth, continued geopolitical disruptions and foreign exchange challenges," said chief executive David Taylor.

P&G's strongest division as far as revenues was health care, the only division with net sales growth, where results were boosted by strong sales in power toothbrushes and oral products.