NEW YORK (AP) — NEW YORK (AP) — Philip Morris International Inc. (PM) on Thursday reported fourth-quarter earnings of $2.4 billion.

On a per-share basis, the New York-based company said it had profit of $1.54. Earnings, adjusted for non-recurring gains, were $1.39 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The seller of Marlboro and other cigarette brands posted revenue of $20.03 billion in the period. Its adjusted revenue was $8.15 billion, also beating Street forecasts. Five analysts surveyed by Zacks expected $7.48 billion.

Philip Morris expects full-year earnings in the range of $6.25 to $6.37 per share.

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