Last updated: October 17. 2013 8:36AM - 245 Views
Associated Press

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(AP) Philip Morris International says its third-quarter profit rose 5 percent as higher prices helped offset the decline in the number of cigarettes it sold.

The seller of Marlboro and other cigarette brands overseas earned $2.34 billion, or $1.44 per share, in the quarter ended September 30, up from $2.23 billion, or $1.32 per share, a year ago.

Excluding excise taxes, revenue was essentially flat at $7.93 billion.

Analysts polled by FactSet had expected $1.44 per share on revenue of $7.94 billion.

Philip Morris International Inc., based in New York and Switzerland, said cigarette shipments fell about 6 percent. Volumes fell in all of its markets, including the European Union and Asia.

Associated Press
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