Procter & Gamble reported fourth-quarter profit fell to $3.04 billion, as higher selling, general and administrative costs more than offset a slight uptick in sales. Sales ticked up 2% to $21.2 billion, missing analyst estimates.

The maker of Crest toothpaste and Pantene shampoo also gave a soft outlook for the current fiscal year, forecasting profit and sales below Wall Street's expectations. Chief Executive Shailesh Jejurikar said the past year brought a challenging geopolitical and economic environment and the company expects continued volatility ahead.

Still, P&G expects to make progress on its key financial measures, he said, with a strategy geared at offering better products at superior value. The company plans to fund its investments with a productivity program.