Philip Morris International (NYSE:PM) handily beat consensus estimates in the third quarter, reporting revenue growth of 0.4%, a currency-neutral revenue increase of 3.3%, and adjusted earnings per share improvement of 13.4%. Looking ahead, the company has guided for a full-year net revenue growth of approximately 3%, excluding currency, and EPS to be in the $4.97 to $5.02 range. Given the fact that year-to-date, the company’s revenue growth has been 6.5%, it would imply a revenue decline of roughly 5% in the fourth quarter. In Korea, another big market for iQOS, while the volume growth was stable on a sequential basis, the market share declined. Consequently, the total shipment volume in the region was up by 18.5%, reflecting a higher market share of 6.1 points.

Source: Forbes October 22, 2018 16:07 UTC