Philip Morris Misses Expectations, Issues Weak Outlook

MarketWatch Pulse

Philip Morris shares remained largely unchanged in morning trade Thursday after the company slightly missed earnings expectations. The company reported net income of $1.612 billion, or $1.03 a share, down from $1.987 billion, or $1.24 a share in the year-earlier period. The FactSet consensus was for per share earnings of $1.06. The company reported sales of $7.2 billion, down from $7.78 billion in the year-earlier period but above the FactSet consensus of $7.01 billion. For 2015, the company predicted diluted earnings per share to be in a range of $4.27 to $4.37, below the FactSet consensus of $4.64.

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