Philip Morris International Inc. said its fourth-quarter normalized net income came to 94 cents per share, compared with the S&P Capital IQ consensus estimate of $1.11 per share.
EPS climbed 36.9% year over year from 69 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.46 billion, an increase of 37.1% from $1.06 billion in the year-earlier period.
The normalized profit margin rose to 20.9% from 16.6% in the year-earlier period.
Total revenue increased 9.1% year over year to $6.97 billion from $6.39 billion, and total operating expenses fell on an annual basis to $4.36 billion from $4.42 billion.
Reported net income grew 37.7% on an annual basis to $1.71 billion, or $1.10 per share, from $1.24 billion, or 80 cents per share.
For the year, the company's normalized net income totaled $3.85 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.49.
EPS was $3.85 in the prior year.
Normalized net income was $5.98 billion, compared with $5.96 billion in the prior year.
Full-year total revenue totaled $26.68 billion, compared with $26.79 billion in the prior year, and total operating expenses fell on an annual basis to $15.87 billion from $16.10 billion.
The company said reported net income rose on an annual basis to $6.95 billion, or $4.48 per share, in the full year, from $6.85 billion, or $4.42 per share.
