Philip Morris’ net income jumps to £1.78 billion in the fiscal third quarter

Philip Morris International Inc (NYSE: PM) published its financial results for the fiscal third quarter on Tuesday that came in stronger than what analysts had anticipated. In a statement last month, CEO Andre Calantzopoulos of Philip Morris said cigarette sales were expected to end in many countries in the next 10 to 15 years. Shares of the company remained almost flat in premarket trading on Tuesday but slid close to 4% on market open to hit an intraday low of £57.67 per share. In comparison, shares of the company had tanked to as low as £46.33 per share in March