Marlboro maker Philip Morris to enter e-cigarette business in 2014
Nov 20 (Reuters) - Marlboro cigarettes maker Philip Morris International Inc raised its full-year profit forecast, citing a lower impact from unfavorable exchange rates, and said it would enter the e-cigarette business in the second half of 2014.
The world's largest listed tobacco company raised its full-year earnings forecast to $5.37-$5.42 per share from $5.35-$5.40.
Analysts on average were expecting Philip Morris to earn $5.39 per share, according to Thomson Reuters I/B/E/S.
Philip Morris shares were down 2.7 percent at $89 on Wednesday afternoon on the New York Stock Exchange.