Philip Morris reports $A2.34b profit

TOBACCO giant Philip Morris International has reported first-quarter profit of $US1.8 billion ($A2.34 billion).

THE New York-based company said it had profit of $US1.16 per share.

Thursday's result topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $US1.02 per share.The seller of Marlboro and other cigarette brands posted revenue of $US6.62 billion in the period.Philip Morris expects full-year earnings to be $US4.32 to $US4.42 per share.The company's shares have decreased four per cent since the beginning of the year.

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