Bloomberg

Philip Morris (PM - Get Report) shares were rising 6.3% Thursday morning after the cigarette maker reported second quarter top- and bottom-line beats while also raising its full year guidance. 

The company reported net income of $2.31 billion, or $1.46 per share on revenue that declined 0.3% to $7.73 billion. Analysts polled by FactSet were expecting the company to report earnings of $1.32 per share on revenue of $7.38 billion. 

"Building on our encouraging start to the year, we delivered another strong quarter that continues to demonstrate the soundness of our strategies and the quality of our execution," said CEO André Calantzopoulos

The company reported that its heated tobacco unit, vaporizers, saw a 34% increase in sales despite being available in only 25% of its markets. 

For the full-year, the company now expects to earn at least $4.94 per share, up from its previous view of $4.87 per share. The increase is still well short of the $5.08 per share the company earned a year ago. 

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