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Philip Morris

(MO)

shook off the problems associated with the weak euro and met analysts' expectations for the third quarter.

The company said underlying net earnings rose to $2.24 billion, or 99 cents a diluted share, in line with Wall Street's estimates, according to

First Call/Thomson Financial

. In the year-ago quarter, the company reported underlying earnings of $2.09 billion, or 87 cents a share. The comparison of underlying results excludes certain pretax items.

Operating revenue in the third quarter rose to $20.06 billion from $19.88 billion a year ago.

Shares of Philip Morris recently traded up $1.13, or 3.7%, to $31.88 in

New York Stock Exchange

activity.