Philip Morris drops 2014 earnings forecast

|About: Philip Morris Internationa... (PM)|By:, SA News Editor

Philip Morris (PM) reports a drop to its 2014 forecast, cutting earnings to $4.87-$4.97 per share, from the $5.09-$5.19 per share it previously expected. The company still estimates adjusted profit in 2014 to rise 6-8%.

"We continue to face significant currency headwinds, an improving but weak macro-economic environment in the European Union and known challenges in Asia," says CEO Andre Calantzopoulos.

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