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Colgate’s Strong Volume Growth Lifts Shares on Thursday


Colgate-Palmolive (CL - Get Report) largely met expectations for its first quarter, while reporting strong growth in both volume and gross margin.

Volume for the total company grew 3.5% for the period, excluding the laundry detergent business based in Australasia, the New York-based personal care conglomerate sold.

Meanwhile, earnings per share of 59 cents met expectations, while revenue of $3.76 billion, also fell close to estimates.

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Organic net sales, excluding the laundry detergent business in Australasia and other items, rose 5%.

Investors are cheering the news, sending the stock up more than 3% as of mid-day trading to $71.54 per share.

Of some concern to analysts, participating in the earnings conference call held mid-morning to discuss the quarterly results, was declining market share in India and China, even with the increase in volume.

Ian Cook, Colgate's CEO, acknowledged on the call that market share for toothpaste in China, for...