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Colgate-Palmolive credited an 18% jump in worldwide ad spending for a 19% increase in earnings for its most recent quarter.
In an earnings call with analysts yesterday, CEO Ian Cook reported that the consumer packaged goods giant’s revenues had hit an all-time high of $805.9 million, up 17% from the previous year’s period. Earnings hit $493.8 million, up about 19% over the previous year. Facing higher commodity costs, Colgate raised prices on many of its items, which the company was able to balance out with an 18% jump in worldwide ad spending.
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