Procter & Gamble strikes back at doubters with surprisingly strong sales

Results are positive for 'beleaguered' industry, analyst says

Procter & Gamble Co. has been dinged over the years for being too big, too slow and too cautious as it tried to break out of tepid growth.

Today, it issued a rejoinder: the largest jump in five years of a key sales measure. Investors cheered the first-quarter results, which the company says is proof its turnaround is working.

“It is broad based, both in geography and brand,” Chief Executive Officer David Taylor said in a phone interview Friday. “That’s indicative of a strategy and an organization that is making progress.”

The surprise growth, including in its home market, sent the shares up