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Philip Morris International Inc (NYSE:PM) shares rose after the company reported stronger-than-expected quarterly results, driven by growth in its smoke-free business and improved margins.
The firm flagged limited disruption from Middle East tensions and trimmed its full-year outlook, citing higher input and transport costs.
Quarterly Details
- First-quarter adjusted earnings per share of $1.96, beating the analyst consensus estimate of $1.83.
- Quarterly sales of $10.146 billion (+9.1% year over year) outpaced the Street view of $9.907 billion.
- The smoke-free business accounted for 43% of total net revenues (up by 1.3pp); …
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