Net revenues of $7.9 billion were up by 2.8%, including unfavorable currency of $270 million. Excluding currency and acquisitions, net revenues increased by 6.4%, driven by favorable pricing across all Regions of $422 million, and favorable volume/mix of $66 million driven by EEMA and Asia, partly offset by the EU.
|OPERATING COMPANIES INCOME|
|PMI Reported Operating Companies Income ($ Millions)|
|Eastern Europe, Middle East & Africa||921||747||23.3%||25.4%||3,726||3,229||15.4%||21.6%|
|Latin America & Canada||290||214||35.5%||37.4%||1,043||988||5.6%||11.9%|
Reported operating companies income was up by 4.0% to $14.2 billion, including unfavorable currency of $607 million. Excluding currency and acquisitions, operating companies income was up by 8.4%, driven by higher pricing, partly offset by unfavorable volume/mix of $233 million, higher manufacturing costs, and increased marketing, sales and distribution investments notably in Germany, Indonesia and Russia. Adjusted operating companies income increased by 3.7% as shown in the table below and detailed on Schedule 15. Adjusted operating companies income, excluding currency and acquisitions, increased by 8.1%. Adjusted operating companies income margin, excluding the impact of currency and acquisitions, was up by 1.1 percentage points to 45.2%, as detailed on Schedule 15.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV