The Procter & Gamble Company PG, popularly known as P&G, reported fourth-quarter fiscal 2017 financial results, wherein earnings and revenues surpassed expectations.P&G’s fiscal fourth-quarter core earnings of 85 cents per share beat the Zacks Consensus Estimate of 78 cents by 9%. The bottom line also increased 8% from the prior-year quarter. Currency-neutral core earnings per share (EPS) also improved 8%. The upside was driven by cost-saving initiatives taken by the company across the board.Sales in DetailsP&G’s reported net sales of $16.08 billion surpassed the Zacks Consensus Estimate of $16.00 billion. The top line, however, remained unchanged compared with the year ago level. Foreign exchange had a negative impact of 2% on sales. Organically (excluding the impact of acquisitions, divestitures and foreign exchange), revenues grew 2% on the back of a 2% increase in organic volumes.Of the five business segments, two registered positive organic sales growth. Beauty and Fabric & Home Care segments registered organic sales growth of 5% each in the quarter in the group. Grooming and Health Care segments, on the other hand, posted 1% organic sales decline each.MarginsCore gross margin decreased 10 basis points (bps) to 49.3%, as productivity cost was more than offset by headwinds such as increased commodity costs, unfavorable geographic and product mix, and product reinvestments.Core selling, general and administrative expense (SG&A) margin decreased 220 bps (as a percentage of sales) to 30.2% driven by productivity savings from overhead, agency fee and ad production costs. Core operating margin increased 210 bps year over year.Total productivity cost savings were 350 bps in the quarter. P&G has been cutting costs aggressively to reduce spending across all areas like supply chain, research & development, marketing and overheads.Fiscal 2017 HighlightsCore EPS came in at $3.92 in the fiscal year, up 7% year over year. Currency-neutral core EPS grew 11%.Fiscal 2017 net sales were $65.1 billion, unchanged from fiscal 2016. Organically, sales increased 2%, driven by a 2% rise in organic shipment volume.FinancialsAs of Jun 30, 2017, the company’s cash and cash equivalents were $5.6 billion, declining from $7.1 billion at the end of fiscal 2016 (as of Jun 30, 2016). Long-term debt was $18.04 billion as of Jun 30, 2017, down from $18.95 billion at the end of fiscal 2016.Cash flow from operating activities was $12.8 billion in fiscal 2017, down from $15.4 billion a year ago.Fiscal 2018 GuidanceThe Cincinnati, OH-based company expects its organic sales growth in the range of 2–3% for fiscal 2018. The core earnings per share growth is projected at 5–7% compared with fiscal 2017 core earnings of $3.92 per share.P&G carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming Peer ReleasesMondelez International, Inc. MDLZ is slated to report its second quarter numbers on Aug 2.The Kraft Heinz Company KHC and B&G Foods Inc. BGS are scheduled to report its second quarter results on Aug 3.Procter & Gamble Company (The) Price, Consensus and EPS Surprise Procter & Gamble Company (The) Price, Consensus and EPS Surprise | Procter & Gamble Company (The) QuoteMore Stock News: Tech Opportunity Worth $386 Billion in 2017From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.See these stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report B&G Foods, Inc. (BGS): Free Stock Analysis Report Mondelez International, Inc. (MDLZ): Free Stock Analysis Report The Kraft Heinz Company (KHC): Free Stock Analysis Report Procter & Gamble Company (The) (PG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research