Philip Morris results beat estimates on demand for heated tobacco sticks

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Jun 17, 2007
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Philip Morris International on Tuesday surpassed market expectations for first-quarter profit and revenue, helped by robust demand for its heated tobacco product and Zyn nicotine pouches. The Marlboro maker's flagship heated tobacco device IQOS, expected to launch in the United States in the second quarter, has been a driving force behind its effort to make more money from alternatives to traditional cigarettes. The company's first-quarter revenue of $8.79 billion beat market expectations of $8.47 billion, according to LSEG data.
 
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