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Philip Morris Delivers Great Q2 Results
Posted on | July 21, 2011 | Comments Off
Profit grew 21% for Philip Morris International (PM) which just reported its 2nd quarter results. It was an excellent quarter and a great reminder of the value in this company. Despite declining volumes in many markets, Philip Morris is able to continuously deliver great results by finding efficiencies in its business, cutting costs and increasing prices. Cigarettes are a perfect example where pricing power can offset volume weakness.
The stock is reacting and is up over 3% today, and the stock is over $70. Unfortunately, for those of us who have been waiting for a decline in share price to add to positions, it looks like this may not happen any time soon.
Great quarter for a great company.
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