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Article: Earnings Preview: Philip Morris International Inc.
- Article from:
- AP Online
- Article date:
- July 21, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Cigarette maker Philip Morris International Inc. is scheduled to report second-quarter results Thursday. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: Philip Morris International _ which sells Marlboros, L&M, Parliament and Virginia Slims outside the U.S. and has offices in Lausanne, Switzerland, and New York _ said in April that the strong dollar battered its first-quarter profit, which fell 12 percent.
The stronger dollar has hurt many companies that have large overseas businesses. Most U.S. companies that sell goods internationally convert those sales from foreign currencies into dollars when they report their financial results. If ...