Philip Morris International Q3 Profit Decreases, but beats estimates

Philip Morris International (PM) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $2.09 billion, or $1.34 per share. This compares with $2.43 billion, or $1.55 per share, in last year's third quarter.

Excluding items, Philip Morris International reported adjusted earnings of $1.53 per share for the period.

Analysts on average had expected the company to earn $1.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.1% to $8.03 billion from $8.12 billion last year.

Philip Morris International earnings at a glance (GAAP) :

-Earnings (Q3): $2.09 Bln. vs. $2.43 Bln. last year.
-EPS (Q3): $1.34 vs. $1.55 last year.
-Analyst Estimates: $1.36
-Revenue (Q3): $8.03 Bln vs. $8.12 Bln last year.

Full year EPS guidance: $5.81 - $5.96

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