Philip Morris closed the second quarter of 2018 with higher than expected revenues of 7,73 billion dollars, an increase of +11,7% compared to 6,92 billion in the corresponding period of the previous year, at constant exchange rates the increase would have been 8,3%.
The quarter ended with net income of $2,2 billion, up 23,4% from $1,78 billion in the second quarter of 2017, while earnings per share increased from $1,14 to $1,41. Analyst estimates indicated earnings per share of $1,23 and revenues of $7,73 billion.
Tobacco executives cut earnings per share forecasts for the full year from $5,25-5,4 to $5,02-5,12; analyst estimates indicate annual earnings per share of $5,14.
