Philip Morris Q2 Earnings Review And An (Un)-Expected Tailwind

Philip Morris International Inc. today reported solid results for the second quarter of 2025, with strong EPS growth and even a modest guidance increase. However, PM shares dropped by more than 10% in the initial reaction, likely and largely due to the somewhat high expectations previously fueled by management. Smoke-free products (IQOS and ZYN) continue to drive growth and offset the slight decline in traditional cigarette volumes.