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

British American Tobacco

Yesterday 12:09

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.


     
     
     

 (Reporting by Shania S Thomas in Bengaluru; Editing by Tasim Zahid)
 ((shanias.thomas@thomsonreuters.com))