THE RESULTS: Philip Morris International Inc.'s first-quarter profit fell 2 percent to $2.13 billion on a decline in the number of cigarettes sold. Excluding excise taxes, revenue increased 2 percent to $7.6 billion. Prices rose.
CIGARETTES SOLD: The company, which sells Marlboro and other cigarette brands overseas, said shipments fell 6.5 percent to 205 billion cigarettes on declines in Asia, the European Union, and Latin America and Canada. Shipments grew slightly in the company's region that encompasses Eastern Europe, the Middle East and Africa.
MARLBORO DECLINES: Marlboro shipments fell nearly 5 percent in the quarter, to 68.7 billion cigarettes. L&M and Parliament brands posted gains.
- Consumer Discretionary
- Company Earnings