: Philip Morris International adjusted profit beats estimate

Philip Morris International Inc. PM on Thursday said its third-quarter net income rose to $3.37 billion, or $1.32 a share, from $2.97 billion, or $1.34 a share, in the year-ago quarter. The tobacco company’s adjusted third quarter profit of $1.67 a share beat the FactSet consensus estimate of $1.62 a share. Revenue increased by 9% to $9.14 billion, adjusted for currency impact. Analysts had expected revenue of $9.21 billion. The company now expects adjusted 2023 profit of $6.58 a share to $6.61 a share excluding currency, compared to the analyst estimate of $6.12 a share. Philip Morris stock was down by 0.4% in premarket trades.

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