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4/21, 1:07 PM (Source: TeleTrader)
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Philip Morris Q1 revenue rises 2.1% to $7.7B

Philip Morris International Inc. announced on Thursday that its first-quarter revenue increased by 2.1% on a yearly basis to $7.7 billion. Diluted earnings per share (EPS) dropped 3.2% to $1.50, while net income fell 3.6% to $2.3 billion. The report assumed the contribution of the company's operations in Russia and Ukraine for the first quarter of 2022 only, ending on April 1 until the end of the year.

"We expect to deliver robust top- and bottom-line growth this year on a pro forma adjusted basis, including full-year adjusted diluted EPS growth of 9% to 11%, excluding currency. This gives us confidence in achieving our 2021 to 2023 compound annual growth targets, on a pro forma basis, and our ambition to become a majority smoke-free company by 2025," said CEO Jacek Olczak.

Philip Morris stock lost 2.17% in premarket trade after the announcement.

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