Philip Morris International Q1 Profit Decreases, but beats estimates

(RTTNews) - Philip Morris International (PM) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $2.33 billion, or $1.50 per share. This compares with $2.42 billion, or $1.55 per share, in last year's first quarter.

Excluding items, Philip Morris International reported adjusted earnings of $1.56 per share for the period.

Analysts on average had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.1% to $7.75 billion from $7.59 billion last year.

Philip Morris International earnings at a glance (GAAP) :

-Earnings (Q1): $2.33 Bln. vs. $2.42 Bln. last year. -EPS (Q1): $1.50 vs. $1.55 last year. -Analyst Estimates: $1.49 -Revenue (Q1): $7.75 Bln vs. $7.59 Bln last year.

-Guidance: Full year EPS guidance: Adj; $5.45 - $5.56