Marlboro maker Philip Morris reports revenue miss, but strong sales of cigarette alternatives
Publishing timestamp: 2023-10-19 13:44:59
Summary
Philip Morris International reported third-quarter earnings that exceeded expectations, but revenue fell short. The company saw success in its electronic cigarettes and Zyn nicotine pouches as it continues to shift away from traditional cigarettes. The CEO highlighted the growth in net revenue and the success of their heated tobacco products and oral nicotine pouches. The company is focusing more on smoke-free products and respiratory medicines as demand for traditional cigarettes declines.
Sentiment: MIXED
Tickers: PM,
Keywords: breaking news: business, retail industry, dividends, jacek olczak, philip morris international inc, earnings, business news,
Source: https://www.cnbc.com/2023/10/19/philip-morris-pm-earnings-q3-2023.html