Philip Morris International Q3 Profit Decreases, but beats estimates

(RTTNews) - Philip Morris International (PM) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $2.05 billion, or $1.32 per share. This compares with $2.09 billion, or $1.34 per share, in last year's third quarter.

Excluding items, Philip Morris International reported adjusted earnings of $1.67 per share for the period.

Analysts on average had expected the company to earn $1.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.8% to $9.14 billion from $8.03 billion last year.

Philip Morris International earnings at a glance (GAAP) :

-Earnings (Q3): $2.05 Bln. vs. $2.09 Bln. last year. -EPS (Q3): $1.32 vs. $1.34 last year. -Analyst Estimates: $1.61 -Revenue (Q3): $9.14 Bln vs. $8.03 Bln last year.

-Guidance: Full year EPS guidance: $6.58 - $6.61