STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Philip Morris International Inc. (PM) on Friday reported fourth-quarter profit of $2.14 billion.
The Stamford, Connecticut-based company said it had net income of $1.37 per share. Earnings, adjusted for non-recurring costs, were $1.70 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.
Philip Morris expects full-year earnings in the range of $8.38 to $8.53 per share.
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