INQUIRER.net: Philip Morris Int’l Q2 profit falls 8%; hurt by PH tax increase in Asia

INQUIRER.net Philippine News for Filipinos

Philip Morris Int'l Q2 profit falls 8%; hurt by PH tax increase in Asia Jul 19th 2013, 00:47 RICHMOND, Virginia—Philip Morris International's second-quarter profit fell about 8 percent as it shipped fewer cigarettes, sending company shares down in premarket trading Thursday.   The company, which fell short of Wall Street expectations, also lowered its full-year guidance due to unfavorable foreign exchange rates, which also weighed on quarterly results.   Philip Morris International sells Marlboro and other cigarette brands outside of the US, so its results reflect smoking trends abroad. It's the world's second-biggest cigarette seller behind state-controlled China National Tobacco Corp.   The cigarette maker reported earnings of $2.12 billi... Keep on reading: Philip Morris Int’l Q2 profit falls 8%; hurt by PH tax increase in Asia Media files: Phillip-Morris-736x1024.jpg (image/jpeg)

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