Philip Morris International (PM) has released strong first-quarter results with revenue of $7.15B (+5.9% year-over-year) beating the Street consensus by $280M.For the first quarter, non-GAAP EPS of $1.21 came in $0.08 above the Street’s forecast and GAAP EPS of $1.17 beat by $0.04. Cigarette and heated tobacco unit shipment volume fell by 1.2%; down by 0.6% on a like-for-like basis, states the press release.PM also withdrew its 2020 reported diluted EPS guidance of at least $5.50, originally provided on February 6, and instead provided a forecast for the second quarter, for which it has ‘relatively better visibility.’According to the press …read more
Source:: Yahoo Finance
