Philip Morris 1Q Profit Rises
April 20 2021 - 7:39AM
Dow Jones News
By Dave Sebastian
Philip Morris International Inc. said its profit rose for the
fiscal first quarter, driven by IQOS, a hand-held device that heats
but doesn't burn tobacco.
The tobacco company Tuesday posted net income attributable to
the company of $2.42 billion, compared with $1.83 billion in the
year-ago period. Earnings were $1.55 a share, compared with $1.17 a
share a year ago.
Adjusted earnings were $1.57 a share. Analysts polled by FactSet
were expecting $1.40 a share.
Net revenues rose 6%, to $7.59 billion. Analysts expected $7.27
billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 20, 2021 07:24 ET (11:24 GMT)
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