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Philip Morris International's stock drops despite earnings beat, due to projected declines in cigarette sales.
Despite strong second-quarter earnings and increased EPS guidance, Philip Morris International's shares fell due to projected declines in traditional cigarette sales volumes.
However, the company's alternative nicotine products, particularly the Zyn brand and Iqos system, showed significant growth, with Zyn shipments increasing 40% in the U.S. to 190 million cans in Q2.
The company maintained its full-year revenue guidance and adjusted EPS forecast, with the stock up about 36% year-to-date.
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Las acciones de Philip Morris International caen a pesar de las ganancias, debido a la disminución prevista en las ventas de cigarrillos.