07:36 AM EDT, 04/23/2024 (MT Newswires) -- Philip Morris International ( PM ) reported Q1 adjusted earnings Tuesday of $1.50 per diluted share, up from $1.38 a year earlier.

Analysts polled by Capital IQ expected $1.41.

Net revenue for the quarter ended March 31 was $8.79 billion up from $8.02 billion a year earlier.

Analysts surveyed by Capital IQ expected $8.45 billion.

For full-year 2024, the company updated its adjusted earnings estimate to between $6.19 and $6.31 per diluted share, compared with its previous range of $6.32 to $6.44. Analysts polled by Capital IQ expect $6.33.

Philip Morris ( PM ) shares were down nearly 1% in premarket trading.