Philip Morris International (PM) stock surged over 6% in pre-market trading on Thursday, following the release of the company's strong Q4 2024 earnings results. The tobacco giant reported adjusted earnings per share of $1.55, beating analysts' consensus estimate of $1.50 by 3.33%. Revenue for the quarter came in at $9.71 billion, a 7.28% increase year-over-year and surpassing Wall Street's expectations of $9.44 billion.
The impressive earnings beat, driven by robust sales growth, fueled investor optimism and sent Philip Morris shares soaring in pre-market trading. The company's ability to outperform analyst projections on both the top and bottom lines underscored its financial strength and operational efficiency, despite challenges in the global tobacco industry.
Philip Morris' strong performance in the fourth quarter capped off a solid fiscal year for the company, further bolstering investor confidence in its growth prospects. As the market eagerly awaits additional details from the earnings report, analysts will scrutinize the company's guidance and strategic initiatives for continued growth in the years ahead.
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