India, April 23 -- Tobacco company Philip Morris International Inc. (PM), while reporting higher first-quarter results above market estimates, on Wednesday raised its forecast for fiscal 2025 earnings.
In the pre-market activity on the NYSE, Philip Morris shares were gaining around 4.6 percent to trade at $28.19.
For the second quarter, the company projects adjusted earnings per share of $1.80 to $1.85, including an estimated favorable currency impact of 6 cents at prevailing exchange rates.
The Wall Street analysts on average expect the company to report earnings of $1.80 per share. Analysts' estimates typically exclude special items.
For fiscal 2025, the company now projects earnings per share to be in a range of $7.01 to $7.14, at pr...