By Colin Kellaher

Braced by stronger-than-expected quarterly results, consumer-products giant Procter & Gamble Co. on Wednesday raised its fiscal 2021 sales and earnings guidance.

P&G says it now expects full-year adjusted per-share earnings growth of 8% to 10% over $5.12 in fiscal 2020, up from a prior forecast of 5% to 8%. That implies a full-year profit of $5.53 to $5.63 a share; analysts polled by FactSet, on average, are expecting full-year adjusted earnings of $5.59 a share.

The Cincinnati company also said it now expects full-year sales on both a reported and organic basis will be up 5% to 6%. P&G previously forecast reported sales growth of 3% to 4% and organic growth of 4% to 5%.

Procter & Gamble on Wednesday posted fiscal second-quarter adjusted earnings of $1.64 a share on sales of $19.7 billion, well above Wall Street's expectations of $1.51 and $19.3 billion, respectively.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

01-20-21 0715ET