PMI reports strong Q3 results, talks smoke-free, Altria and Swedish Match

Philip Morris International (PMI) reported strong third quarter results in terms of revenue but saw a number of setbacks in shipment volumes as it looks to meet its goal of becoming a majority smoke-free company by 2025.

The company reported that net revenues rose organically by 8.1% to $23.61bn over the first nine months of the year. These were primarily boosted by higher heated tobacco unit (HTU) and device volume. In the third quarter, the New York-based company saw an increase of 6.7% to $8.03bn.