Procter & Gamble beats expectations again amid media hikes and agency cuts

Procter & Gamble Co. posted its second straight quarter of 7 percent organic sales growth for its fiscal first quarter today amid continuing cuts in agency and other creative costs, but with a significant hike in media spending.P&G beat analyst expectations by two percentage points on the top line and 13 cents in adjusted earnings per share, continuing a streak of upside surprises.A rising tide (Fabric and Home Care sales rose 8 percent) won’t lift agency boats, however. P&