The tobacco company still posted an earnings beat. It said third-quarter EPS was $1.67. Wall Street called for $1.62.
Philip Morris International shares were falling after it missed on revenue in its latest earnings report.
Philip Morris still beat expectations for earnings. It posted third-quarter adjusted earnings of $1.67 a share, higher than the $1.53 recorded in the year ago quarter. Wall Street had called for $1.62 a share, according to FactSet.The company also revised their adjusted earnings guidance for the year to a range of $6.05 to $6.08 a share, compared to a prior range shared last month of $5.96 to $6.05. That was still short of the $6.12 analysts were expecting.
Shares of Philip Morris were slipping 0.6% to $92.64 in premarket trading. Coming into Thursday’s session, the stock is down 7.9% this year.
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