Philip Morris International Q3 Profit Decreases, but beats estimates

(RTTNews) - Philip Morris International (PM) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $2.09 billion, or $1.34 per share. This compares with $2.43 billion, or $1.55 per share, in last year's third quarter.

Excluding items, Philip Morris International reported adjusted earnings of $1.53 per share for the period.

Analysts on average had expected the company to earn $1.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.1% to $8.03 billion from $8.12 billion last year.

Philip Morris International earnings at a glance (GAAP) :

-Earnings (Q3): $2.09 Bln. vs. $2.43 Bln. last year. -EPS (Q3): $1.34 vs. $1.55 last year. -Analyst Estimates: $1.36 -Revenue (Q3): $8.03 Bln vs. $8.12 Bln last year.

-Guidance: Full year EPS guidance: $5.81 - $5.96