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10/19, 1:30 PM (Source: TeleTrader)
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Philip Morris reports $8.12B revenue for Q3

American cigarette and tobacco manufacturer Philip Morris International Inc. announced on Tuesday the company's net revenues in the third quarter of 2021 rose 9.1% to reach $8.12 billion, beating analyst expectations.

Meanwhile, the update revealed Philip Morris reported diluted earnings per share were $1.55, representing a 4.7% increase compared to the same quarter a year earlier. The company's operating income increased by 6.5%, to reach $3.46 billion. "We confirm our confidence in our 2021 to 2023 growth targets, despite device constraints that could persist into the first half of 2022, with temporarily lower IQOS user growth rates," Chief Executive Officer Jacek Olczak said.

Following the earnings report, shares of Philip Morris were flat to sell for $97.50 in premarket trading.

Breaking the News / TT