Philip Morris International's (PM) net income fell in the second quarter.
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Earnings and Revenue
The company experienced stronger-than-expected EPS and revenues. The company reported EPS of $1.36 a share versus the $1.34 a share estimate and revenues of $8.12 billion versus the $8.01 billion estimate. The estimates of 11 analysts ranged from profit of $1.30 to profit of $1.37.
The company's net income for the quarter was $2.32 billion. According to the reported number, this is down 3.7% from last year's levels. Revenue fell 1.8% from $8.27 billion in the same period last year.
Company Fundamental Trends
With last quarter's falling profit, The company ends a run of at least four consecutive quarters of year-over-year profit increases. Slumping revenue in the last quarter ends The company's streak of at least four consecutive quarters of revenue increases.
History Against Expectations
The company has now topped analyst estimates for at least the last four quarters. It beat by 6 cents in the first quarter, 2 cents in the fourth quarter of the last fiscal year and 14 cents in the third quarter of the last fiscal year.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.