Cigarette and tobacco manufacturing company Philip Morris International Inc. (PM) has reported strong results for the third quarter ended September 30, 2021. The robust results were primarily driven by the growth witnessed in net revenues. Following the news, shares of the company declined 1.7% on Tuesday. The stock, however, pared its losses slightly to close at $95.90 in the extended trading session. Philip Morris reported quarterly net revenues of $8.1 billion, up 9.1% from the prior year’s figure of $7.4 billion. Moreover, the figure surpassed the Street's estimate of $7.9 billion.
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Philip Morris (NYSE:PM)
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