STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Philip Morris International Inc. (PM) on Wednesday reported first-quarter profit of $2.69 billion.
On a per-share basis, the Stamford, Connecticut-based company said it had profit of $1.72. Earnings, adjusted for non-recurring gains, were $1.69 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
Philip Morris expects full-year earnings in the range of $7.36 to $7.49 per share.
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