THE RESULTS: Philip Morris International Inc.’s second-quarter net income fell 4 percent to $2.32 billion despite higher prices, as the company sold fewer cigarettes. Excluding excise taxes, revenue fell about 2 percent to $8.1 billion.
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CIGARETTE VOLUMES: The company, which sells Marlboro and other cigarette brands overseas, said shipments fell 1 percent to 238.3 billion cigarettes, with declines in the European Union, Latin American and Canada, and Asia. Shipments rose in the region that encompasses Eastern Europe, the Middle East and Africa.
MARLBORO DECLINES: Marlboro shipments fell 1.5 percent to 76.9 billion cigarettes.
