Exceeding even "heightened expectations," Procter & Gamble posted strong quarterly earnings brought about by innovation, marketing, and simplified organizational structure.
When Monday closed, the company's shares rose close to 30% this year giving the consumer giant a market value of $298 billion.
Because of this, P&G shares increased by more than 4% in premarket trading.
Analysts at Refinitiv have on data the expected earnings per share of P&G at $1.24 that ended at $1.37.
Revenue by the company was put at $17.42 billion by Royal Bank of Canada (RBC) analysts but ended up at $17.80 billion.
This type of market share might put competitors like Clorox, Kimberly-Clark, and Unilever to step it up.
However, CEO David Taylor said the company continues to see healthy competition in countries like China.
Taylor pointed out that creating new products and business through innovation together with focusing on growing sales and profit give him confidence that the company will keep its momentum.
The company, earlier this year, announced it is working on digital diapers that track babies' sleep.
P&Gs strongest growth is from its beauty, home care, fabric and health care lines.
Sales of its beauty business products like SK-II and Olay grew to 10% from 2018.
P&Gs health-care business which includes Crest toothpaste and Oral-B, grew 9%.
The fabric and home care line of Procter & Gamble, which has Tide and Downy, grew by 8%.
The company also attributed high sales to the value-added tax planned to go into effect this month in Japan.
This value-added tax plan of Japan makes retailers there stock up on inventory adding about 40 basis points to P&Gs growth this quarter.
Still, there's the drag caused by its Gillette shaving business with brands like Unilever's Dollar Shave Club and Harry's winning.
P&G's shaving segment this past quarter grew by only 1% year over year, without the impact of currency and acquisitions.
Last quarter, Procter & Gamble put the value of the Gillette brand at $8 billion.
Though "continued consumer strength" is seen across the board, in case P&Gs market weakens, Taylor assures that P&G is prepared because of the company's innovation and product categories, like detergent, at the heart of every consumer's essential.
The company's fiscal first-quarter net income was $3.59 billion, or $1.36 per share, up from $3.2 billion, or $1.22 per share from 2018.
P&G company outlook for the fiscal year 2020 got raised from 3% to 4% 3% to 5% compared to the earlier fiscal year.
Original expectations of core earnings grew from 4% to 9% to 4% to 10%.
