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Philip Morris Profit Misses Analysts’ Estimates on Currency

Philip Morris International Inc., the world’s largest publicly traded tobacco company, reported second-quarter earnings that trailed analysts’ estimates after the stronger dollar reduced overseas sales.

Net income sank 8.3 percent to $2.12 billion, or $1.30 a share, from $2.32 billion, or $1.36, a year earlier, the New York-based maker of Marlboro cigarettes said today in a statement. Analysts projected earnings of $1.41, the average of 13 estimates compiled by Bloomberg.