Philip Morris International stock was lower on Tuesday, following the tobacco giant’s second-quarter results as the market reacted to full-year guidance that was slightly below expectations.
Its CFO says that the company continues “to head in the right direction.”
Philip Morris (ticker: PM) said it earned $2.17 billion, or $1.39 a share, up from $1.25 a share in the year-ago period. On an adjusted basis, which strips out nonrecurring items, earnings were $1.57 a share. Revenue climbed 14% to $7.59 billion. Analysts were looking…
Teresa Rivers – BARRON’S – 2021-07-20.