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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Philip Morris International Inc | NYSE:PM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.47 | 2.71% | 93.67 | 94.025 | 91.38 | 91.54 | 8,710,169 | 00:54:09 |
By Austen Hufford
Philip Morris International Inc. (PM) raised its profit forecast for the year, citing currency exchange rates.
The tobacco company said it now expects earnings per share between $4.53 and $4.58, above its previous estimate of between $4.45 and $4.55.
It said currency exchange rates would hurt results by 35 cents, down from 40 cents previously.
For the year, Philip Morris expects total cigarette industry volumes to decline between 2.0% and 2.5%, excluding China and the U.S., and expects its cigarette shipment volume, excluding those countries, to decline at a rate of 3.9%.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
September 29, 2016 07:37 ET (11:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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