Philip Morris (PM) Q3 Earnings Beat; Maintains 2016 View
Zacks Investment Research | Oct 17, 2016 10:30PM ET
Philip Morris International Inc. (NYSE:PM) reported adjusted third-quarter 2016 earnings per share of $1.25 that beat the Zacks Consensus Estimate of $1.23 by 1.62%. Additionally, earnings gained 1% from the prior-year quarter figure driven by higher sales.
Excluding an unfavorable currency impact of 4 cents, earnings inched up 4% year over year.
Revenues & Margins
Net revenue was up 1% (up 3.6% excluding currency) to $7.0 billion and was in-line with the Zacks Consensus Estimate. The sales gain is attributable to higher sales in Asia and European Union region. However, the increase was partially offset by lower sales in the tobacco category, stemming from the shift of customer preference away from tobacco products. Cigarette shipment volumes also fell 5.4% to 2.1 billion units, primarily owing to a decline in total market share.
PHILIP MORRIS Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.