PM - Why Is Philip Morris Stock Falling Today? | Benzinga
Philip Morris International Inc (NYSE:PM) shares are trading lower after the company announced its fourth-quarter results.
Quarterly revenues of $9.047 billion marginally beat the analyst consensus of $9.01 billion. Adjusted earnings per share of $1.36 missed the street view of $1.45.
Net revenues increased by 8.3% on an organic basis, mainly reflecting a favorable pricing variance, primarily driven by higher combustible tobacco pricing.
The company witnessed a combustible tobacco net ...