Philip Morris Profit Rises as Smoke-Free Products Catch On

Philip Morris International Inc. reported higher profit in the fourth quarter, helped by strong sales of smoke-free products such as Zyn nicotine pouches.

The company, which sells Marlboro cigarettes outside the US but is shifting away from combustible tobacco, said Friday that adjusted diluted earnings per share rose to $1.70 in the period, ahead of analyst estimates. The group forecast earnings of $1.80 to $1.85 a share in the current quarter.