Philip Morris Q3 Earnings Miss On Weak EU, Stock Down
Philip Morris International (PM) reported earnings below Wall Street estimates early Thursday as sales in the EU fell. The maker of Marlboro brand cigarettes for sale outside the U.S. said Q3 earnings rose nearly 1% to $1.38 per share, missing views by a penny. Revenue excluding excise taxes dropped 5% to $7.9 billion, under expectations of $8.2 billion. Shares fell 3% intraday Thursday to 89.12. Shipments to the EU fell 8% as demand declined in
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