Why Is Philip Morris Stock Falling Today?

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Philip Morris International Inc (NYSE:PM) shares are trading lower after the company announced its fourth-quarter results.

Quarterly revenues of $9.047 billion marginally beat the analyst consensus of $9.01 billion. Adjusted earnings per share of $1.36 missed the street view of $1.45.  

Net revenues increased by 8.3% on an organic basis, mainly reflecting a favorable pricing variance, primarily driven by higher combustible tobacco pricing.

The company witnessed a combustible tobacco net …

Full story available on Benzinga.com


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