Philip Morris' 1Q profit falls, misses forecasts
NEW YORK (AP) — Philip Morris International Inc. on Tuesday reported a drop in first-quarter profit on lower cigarette sales volume.
The tobacco company, which only sells its products outside the U.S., reported a 14.8 percent dip in net income to $1.53 billion, or 98 cents per share.
The company said a mix of currency fluctuations and lower shipment volumes cut into its overall revenue.
