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Procter & Gamble (PG) Stock Spikes on Earnings, Jim Cramer Weighs In

NEW YORK (TheStreet) -- The Procter & Gamble Co. (PG - Get Report) shares are increasing 2.20% to $76.50 on Friday after the consumer packaged products company reported its first quarter fiscal 2016 earnings results.

Profits topped estimates while revenue missed projections.

For the latest quarter, the company earned 98 cents a share, topping analysts' estimates of 95 cents a share.

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Revenue however, came in at $16.53 billion, falling short of analysts' estimates of $17.17 billion.

In the same period the year before, the company earned 97 cents a share on revenue of $18.77 billion.

Sales for the recent quarter were impacted by the strong dollar, as the company receives about two-thirds of its revenue from markets outside North...