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Philip Morris International, Inc.

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Philip Morris’ third-quarter 2015 earnings of $1.24 per share beat the Zacks Consensus Estimate by 12%. On a constant currency basis, earnings rose 15.8% year over year as strong sales growth offset higher operating expenses. Revenues beat estimates by 2.9% and rose 5.9% year over year on volume growth and positive pricing. Overall, the company’s strong portfolio of tobacco brands and pricing power are encouraging.The company’s focus on the growing e-cigarette category and less harmful alternative tobacco products is in line with the changing consumer preferences. Philip Morris is also increasing its presence in the emerging markets through strategic buyouts. However, strict anti-smoking regulations by governments across the world and currency headwinds are the concerns.


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