NEW YORK ? Colgate-Palmolive is posting nearly a 6 percent decline in its fourth-quarter net income, citing higher costs to make and package its products.
The company made $590 million in the October to December period Thursday, down from $624 million. That translates to $1.21 per share, less than the $1.29 that analysts polled by FactSet had predicted.
Revenue rose 5 percent to $4.17 billion with the company able to pass on some higher prices to consumers, but that's just shy of the $4.19 billion that Wall Street is looking for. The fastest growth came in emerging-market countries, with a lot of U.S. consumers still trading down to other brands in a dour economy.
Shares of Colgate-Palmolive Co., based in New York, were unchanged in premarket trading, at $89.44.
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