Philip Morris International (PM) reported a profit for third quarter that lost ground compared to the same period last year.
The company said its bottom line came in at $1.94 billion, or $1.24 per share. This was down from $2.16 billion, or $1.39 per share, in last year's third quarter.
Analysts had expected the company to earn $1.11 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 9.0% to $19.42 billion. This was down from $21.34 billion last year.
Philip Morris International earnings at a glance:
-Earnings (Q3): $1.94 Bln. vs. $2.16 Bln. last year.
-Earnings Decline (Y-o-Y): -10.2%
-EPS (Q3): $1.24 vs. $1.39 last year.
-EPS Decline (Y-o-Y): -10.8%
-Analysts Estimate: $1.11
-Revenue (Q3): $19.42 Bln vs. $21.34 Bln last year.
-Revenue Change (Y-o-Y): -9.0%
-Guidance:
Full year EPS guidance: $4.35 - $4.40
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