Business

Philip Morris International beats earnings, revenue expectations

Philip Morris International on Thursday reported quarterly earnings and revenue that beat analysts’ expectations.

Shares of the company rose 4 percent in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.25, adjusted, vs. $1.16 expected
  • Revenue: $7.5 billion vs. $7.39 billion expected

PMI reported fourth-quarter net income of $1.91 billion, or $1.23 per share, up from $694 million, or 44 cents per share a year earlier.

On an adjusted basis, PMI earned $1.25 per share, above the $1.16 per share expected by analysts surveyed by Refinitiv.

Net sales declined nearly 10 percent to $7.5 billion, more than the $7.39 billion in revenue expected by Wall Street.

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