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Actionable news in PM: PHILIP MORRIS INTERNATIONAL Inc,

Philip Morris Lifts Full-Year EPS Projection After Earnings

Philip Morris International Inc. (NYSE: PM) reported third-quarter 2015 results before markets opened on Thursday. The tobacco products firm posted quarterly adjusted diluted earnings per share (EPS) of $1.24 on revenue of $6.9 billion. In the same period a year ago, the company reported EPS of $1.39 on $7.9 billion in revenues. Reported revenue is net of excise taxes. Thomson Reuters had consensus estimates for EPS of $1.11 and revenue of $6.76 billion.

On a GAAP basis, Philip Morris reported EPS of $1.25.

Total cigarette shipments dropped by 1.5% in the quarter, which the company principally attributed to declines in shipments Asia, mainly Indonesia, Japan and Pakistan. Excluding inventory movements, shipment volumes dropped by 1.1%.

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