• Mon. Sep 21st, 2020

Dimancherouge

Technology

Philip Morris Raises Bottom of Earnings Estimate, Boosts Dividend

Shares of Philip Morris International  (PM) – Get Report eased Thursday, even after the tobacco giant raised the bottom of its estimated earnings range for full-year 2020 and increased its quarterly dividend.

The company revised its GAAP earnings per share forecast to a range of $4.92 to $4.99, at prevailing exchange rates, compared to its prior forecast range of $4.84 to $4.99, which was provided on July 21.

“This primarily reflects the expectation of a stronger-than-anticipated performance in the third quarter,” the company said in a statement.

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