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Philip Morris maintains annual profit outlook; shares fall

By Reuters News14 hours ago Updated

** Shares of cigarette maker Philip Morris PM.N down about 3% at $194.11 premarket

** Company maintains annual adjusted EPS forecast, excluding currency, in the range of $8.11 to $8.26

** However, beats Q3 estimates for sales and profit, helped by strong demand for smoking alternatives, including its Zyn nicotine pouches

** Q3 revenue rises 5.5% to $11.44 billion, compared with analysts' estimate of $11.28 billion - data compiled by LSEG

** Q3 adjusted EPS of $2.36 also ahead of the estimate of $2.29

** As of last close, shares up 24.63% YTD

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