NEW YORK (AP) _ Philip Morris International Inc. (PM) on Tuesday reported second-quarter net income of $1.94 billion.

The New York-based company said it had profit of $1.25 per share. Earnings, adjusted for asset impairment costs, were $1.29 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The seller of Marlboro and other cigarette brands posted revenue of $17.82 billion in the period. Its adjusted revenue was $6.65 billion, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $6.49 billion.

Philip Morris expects full-year earnings in the range of $4.92 to $5.07 per share.

Philip Morris shares have fallen 14% since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 1%. The stock has declined 17% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PM at https://www.zacks.com/ap/PM

Automated Insights, source Associated Press News