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Philip Morris stock gains after profit and revenue beat expectations, overall shipments rise 2.1%

·1 min read
Philip Morris stock gains after profit and revenue beat expectations, overall shipments rise 2.1%
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Shares of Philip Morris International Inc. rose 0.6% in premarket trading Tuesday, after the cigarette and tobacco company reported third-quarter profit and revenue that rose above expectations, as overall shipment volume increased. The company reported operating income that rose 6.5% from a year ago to $3.46 billion, and earnings per share that grew to $1.55 from $1.48. Excluding nonrecurring items, adjusted EPS rose 11.3% to $1.58 to top the FactSet consensus of $1.56. Revenue increased 9.1% t