NEW YORK (AP) _ Philip Morris International Inc. (PM) on Thursday reported fourth-quarter net income of $1.62 billion.
The New York-based company said it had profit of $1.04 per share. Earnings, adjusted for one-time gains and costs, were $1.22 per share.
The results matched Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of $1.22 per share.
The seller of Marlboro and other cigarette brands posted revenue of $19.85 billion in the period. Its adjusted revenue was $7.71 billion, which topped Street forecasts. Four analysts surveyed by Zacks expected $7.68 billion.
Philip Morris expects full-year earnings to be $5.50 per share.
Philip Morris shares have decreased slightly more than 1% since the beginning of the year, while the Standard & Poor's 500 index has increased 3%. The stock has risen 11% 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