In its second-quarter earnings report on Thursday, Philip Morris International Inc. announced its revenue increased 3.1% annually to $7.8 billion. Net income was up 2.8% year-on-year to $2.2 billion, with diluted earnings per share (EPS) rising 2.9% and landing at $1.43.
In the first half of 2022, revenue came to $15.6 billion, up 2.6% compared to the first half of 2021. Net income was down 0.6% to $4.6 billion, with the EPS at $2.93, unchanged from H1 2021.
"We are raising our outlook for the full year and now expect to deliver pro forma adjusted growth in net revenues of 6% to 8%, on an organic basis, and diluted EPS of 10% to 12%, excluding currency, underpinned by pro forma heated tobacco unit shipment volume of 90 to 92 billion units," the tobacco company's CEO Jacek Olczak said.
Philip Morris shares grew 0.68% in the premarket after the earnings report.
