Marlboro Maker Philip Morris Highlights Strong Q3 Performance On Higher Prices, Issues Upbeat Annual Forecast
On Tuesday, Philip Morris International Inc. (NYSE:PM) stock is trading higher after the company reported better-than-expected third-quarter 2024 earnings. The Marlboro maker reported third-quarter revenue of $9.91 billion, up 8.4% year over year, beating the consensus of $9.69 billion. Net revenues increased by 11.6% on an organic basis, mainly reflecting a favorable pricing variance, primarily due to higher combustible tobacco pricing, and a favorable volume/mix, mainly driven by higher smoke-
