Adjusted diluted earnings per share increased to $2.20, topping the analyst estimate of $2.04. Net revenue rose 10.4% year over year to $11.19 billion, exceeding expectations of $10.64 billion. Organic revenue grew 7.6%.
Philip Morris Earnings And Margins
Reported diluted EPS declined 7.7% to $1.80, primarily due to a $511 million noncash impairment charge related to PMI’s investment in RBH, equal to 33 cents per share.
Operating income increased 22% to $4.53 billion, while adjusted operating income rose 12.4% to $4.77 billion. Adjusted operating margin expanded to 42.6% from 41.9%.
Adjusted gross profit climbed 11.5% to $7.67 billion, with adjusted gross margin improving 70 basis points to 68.5%.
