Philip Morris International Q4 Profit Decreases, misses estimates

(RTTNews) - Philip Morris International (PM) announced earnings for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $2.20 billion, or $1.41 per share. This compares with $2.40 billion, or $1.54 per share, in last year's fourth quarter.

Excluding items, Philip Morris International reported adjusted earnings of $1.36 per share for the period.

Analysts on average had expected the company to earn $1.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.0% to $9.05 billion from $8.15 billion last year.

Philip Morris International earnings at a glance (GAAP) :

-Earnings (Q4): $2.20 Bln. vs. $2.40 Bln. last year. -EPS (Q4): $1.41 vs. $1.54 last year. -Analyst Estimates: $1.45 -Revenue (Q4): $9.05 Bln vs. $8.15 Bln last year.