Philip Morris International (NYSE: PM) reported fourth-quarter 2020 financial results before the regular market hours on Thursday. The tobacco company reported fourth-quarter revenue of $7.44 billion, down 3.5% year-over-year, but above the Wall Street projection. Net income of $1.26 per share was also higher than what analysts had anticipated.
PM shares were trading flat immediately following the announcement. The stock declined 4% in the trailing 12 months.
CEO André Calantzopoulos said in a statement, “For the full year, we are expecting a significant recovery, with mid-single-digit organic net revenue growth—driven by the growing contribution of IQOS—and further efforts on cost efficiencies driving an acceleration in forecasted adjusted diluted EPS growth to a range of 9% to 11% on the same basis.”
Prior performance
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
