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Philip Morris: 2Q Earnings Snapshot

July 18, 2019

NEW YORK (AP) _ Philip Morris International Inc. (PM) on Thursday reported second-quarter net income of $2.31 billion.

On a per-share basis, the New York-based company said it had net income of $1.49. Earnings, adjusted for pretax gains, were $1.46 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The seller of Marlboro and other cigarette brands posted revenue of $19.99 billion in the period. Its adjusted revenue was $7.7 billion, which also beat Street forecasts. Five analysts surveyed by Zacks expected $7.35 billion.

Philip Morris expects full-year earnings to be $5.14 per share.

Philip Morris shares have risen 21% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. The stock has declined 1.5% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PM at https://www.zacks.com/ap/PM

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