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Philip Morris beats third-quarter estimates on smoke-free product demand

By Reuters News15 hours ago Updated

Oct 21 (Reuters) - Philip Morris International PM.N beat Wall Street estimates for third-quarter sales and profit on Wednesday, helped by strong demand for smoking alternatives including its Zyn nicotine pouches and IQOS heated tobacco products.

Quarterly revenue rose 5.5% to $11.44 billion, compared with analysts' estimate of $11.28 billion, according to data compiled by LSEG.

The company reported adjusted profit of $2.36 per share for the quarter, compared with analysts' average estimate of $2.29 per share, according to data compiled by LSEG.

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