NEW YORK (Reuters) - Procter & Gamble Co. posted a 29 percent jump in quarterly profit Friday driven by strength in its household and beauty businesses and the addition of the Gillette businesses it acquired in October.

The company makes Crest toothpaste, Duracell batteries and a host of other products.

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Profit increased to $2.55 billion, or 72 cents per share, in the fiscal second quarter, from $1.98 billion, or 72 cents, a year earlier. Analysts' average profit forecast was 69 cents, according to Reuters Estimates.

Revenue jumped 27 percent to $18.34 billion, while analysts had expected revenue of $18.22 billion. Unit volume also rose 27 percent. Excluding acquisitions, divestitures and the impact of foreign exchange, sales rose 8 percent.

In December, P&G; said it expected to earn 68 to 69 cents in the quarter, up from a previous forecast of 66 to 69 cents, as its beauty and household products businesses were performing well, as were its new Gillette businesses.

P&G; now expects to earn $2.58 to $2.62 in the current fiscal year, which ends in June. The company cited strong sales momentum on its P&G; and Gillette business for the improved forecast, and said the view includes 19 to 23 cents of dilution from the Gillette acquisition. In November, P&G; forecast fiscal year earnings of $2.54 to $2.60 per share.

Analysts, on average, expected a profit of $2.59 from Cincinnati-based P&G.;

Shares of P&G;, a component of the Dow Jones industrial average, fell 2.6 percent during the quarter, which started just as its acquisition of Gillette was completed.

Procter & Gamble (Research) shares closed slightly higher Thursday at $58.82 on the New York Stock Exchange.

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