Philip Morris International Announces 10% Drop In Q3 Earnings

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The FINANCIAL — Philip Morris International reported a profit for third quarter that lost ground compared to the same period last year, according to Nasdaq.

The company said its bottom line came in at $1.94 billion, or $1.24 per share. This was down from $2.16 billion, or $1.39 per share, in last year’s third quarter.

Analysts had expected the company to earn $1.11 per share, according figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company said revenue for the quarter fell 9.0% to $19.42 billion. This was down from $21.34 billion last year.

Philip Morris International earnings at a glance:

-Earnings (Q3): $1.94 Bln. vs. $2.16 Bln. last year.

-Earnings Decline (Y-o-Y): -10.2%

-EPS (Q3): $1.24 vs. $1.39 last year.

-EPS Decline (Y-o-Y): -10.8%

-Analysts Estimate: $1.11

-Revenue (Q3): $19.42 Bln vs. $21.34 Bln last year.

-Revenue Change (Y-o-Y): -9.0%


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