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Philip Morris International: 2017 guidance cut.

(CercleFinance.com) - Philip Morris International cut its full-year guidance on Thursday after reporting Q3 earnings that were below the consensus.

The cigarette maker now expects diluted EPS to be a range of 4.75 dollars to 4.80 dollars, versus 4.48 dollars in 2016.

The group previously forecast full-year reported diluted EPS at between 4.78 dollars and 4.93 dollars.

While cigarette unit shipment volume fell by 0.5% in the past quarter, heated tobacco products (electronic smoke-free products) saw shipment volume jump to 9.7 billion units, up from 2.1 billion units in 2016.

Reported net revenues hence rose by 3.5% to 20.6 billion dollars, with EPS of 1.27 dollar, which is 11 cents below the consensus.

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