Categories AlphaGraphs, Consumer, Earnings
Infographic: Philip Morris (PM) Q1 results top expectations
Tobacco giant Philip Morris International (NYSE: PM) on Tuesday reported first-quarter earnings and revenues that beat analysts’ forecast.
First-quarter earnings, adjusted for special items, rose to $1.57 per share from $1.21 per share a year earlier and came in above the market’s prediction. Unadjusted net income moved up to $2.42 billion or $1.55 per share from $1.83 billion or $1.17 per share in the first quarter of 2020.
“This performance was driven by the continued strength of IQOS, in particular, reflecting excellent user, volume, and market share momentum, as well as further progress with manufacturing and operating cost efficiencies,” said the company’s chief executive officer André Calantzopoulos.
Read management/analysts’ comments on Philip Morris’ Q1 earnings
The bottom line benefited from a 6% growth in revenues to $7.59 billion. Analysts had predicted a slower top-line growth. The company’s stock dropped early Tuesday following the earnings release, after closing the previous session lower.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Earnings calendar for the week of May 3
Leading stock indexes retreated after gaining mid-week when Wall Street biggies like Apple and Amazon reported impressive quarterly numbers. The Dow Jones Industrial Average was down 190 early Friday, while
How did the first quarter of 2021 turn out for the airline industry?
The airlines sector was severely impacted by the disruption caused by the COVID-19 pandemic in 2020. A year later, the industry is still limping its way to a recovery. In
Amazon (AMZN) fine-tunes growth strategy to stay in the fast lane
The company that witnessed the strongest growth during the pandemic is probably Amazon.com, Inc. (NASDAQ: AMZN), which went into overdrive when the crisis triggered an online shopping boom. Taking a
