Philip Morris Profit Slips as Cigarette Smoking Decline Takes Toll

Now watching

Next video starts in : 7 Play

Philip Morris Profit Slips as Cigarette Smoking Decline Takes Toll

Philip Morris Profit Slips as Cigarette Smoking Decline Takes Toll
Replay video
Up next

What to Watch in the Week Ahead: Dollar Tree Earnings, PMI

Unlock your personal NFL Now stream by signing in to NFL.com

Philip Morris Profit Slips as Cigarette Smoking Decline Takes Toll

by TheStreet 0:53 mins

The global decline in cigarette smoking is taking a toll on Philip Morris' second quarter results. The cigarette maker earned $1.17 a share, short of forecasts and down more than 10% from the same period a year ago. Revenue slid 1.5% to just under $8 billion, but that was still better than estimates. Philip Morris said if currency adjustments were excluded, revenue would have risen by more than 4%. Shipments to European countries increased more than 8% while the overall shipment volume dropped nearly 3%. TheStreet's Julia Sun has details from New York.

View Comments (2)