Philip Morris: 3Q Earnings Snapshot

NEW YORK (AP) -- Philip Morris International Inc. (PM) on Thursday reported third-quarter net income of $2.25 billion.

On a per-share basis, the New York-based company said it had profit of $1.44.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The seller of Marlboro and other cigarette brands posted revenue of $20.44 billion in the period. Its adjusted revenue was $7.5 billion, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $7.18 billion.

Philip Morris expects full-year earnings in the range of $4.97 to $5.02 per share.

Philip Morris shares have decreased 20 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5 percent. The stock has fallen 25 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PM at https://www.zacks.com/ap/PM