The Procter & Gamble Company reported consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported net sales of $16,915 million compared to $18,495 million, operating income of $3,853 million compared to $3,579 million, earnings from continuing operations before income taxes of $3,803 million compared to $3,472 million, net earnings from continuing operations of $2,905 million or $1.01 per diluted share compared to $2,674 million or $0.92 per diluted share and net earnings attributable to company of $3,206 million or $1.12 per diluted share compared to $2,372 million or $0.82 per diluted share a year ago. Total operating activities were $8,018 million compared to $7,068 million a year ago. Capital expenditures were $1,223 million compared to $1,642 million a year ago. Core earnings per share were $1.04, an increase of 9%. Currency-neutral core earnings per share grew 21% versus the prior year.

For the six months, the company reported net sales of $33,442 million compared to $37,266 million, operating income of $7,621 million compared to $7,212 million, earnings from continuing operations before income taxes of $7,457 million compared to $6,979 million, earnings from continuing operations of $5,682 million or $1.97 per diluted share compared to $5,390 million or $1.85 per diluted share and net earnings attributable to company of $5,807 million or $2.03 per diluted share compared to $4,362 million or $1.51 per diluted share a year ago.

For the year 2016, the company is maintaining its outlook for organic sales growth of in-line to up low-single digits versus fiscal 2015. The company expects all-in sales to be down high-single digits in fiscal 2016, now including a negative 7% point foreign exchange impact and a 2-3% point drag from the combined impacts of the Venezuela deconsolidation and minor brand divestitures. The company announced core EPS, including foreign exchange impacts, is now projected to be down 3% to 8% versus last year's core EPS of $3.76. All-in GAAP earnings per share are expected to increase in the range of 38% to 46% versus the prior year. The company increased its outlook for adjusted free cash flow productivity from 90% to 100% of adjusted net earnings for the fiscal year.