Philip Morris beats earnings expectations but falls short of first-quarter earnings forecasts

Philip Morris's (NYSE: PM) first-quarter report beat analysts' earnings-per-share forecasts but fell short of earnings expectations.

The company reported earnings per share of $1.38 and total revenue of $8 billion. Analysts at Investing.com had forecast earnings per share of $1.35 and total revenue of $8.03 billion.

For the year, Philip Morris shares are up 11% year-to-date, below the average of the S&P Global 100 index, which has climbed 23% over the same period.

Philip Morris follows the general trend of non-cyclical companies this month. Earlier on March 23, General Mills reported third-quarter earnings per share of $0.97 on total revenue of $5.1 billion, beating analysts' expectations for earnings per share of $0.92 on total revenue. $4.94 billion.

And also on April 6, Constellation Brands A earnings beat analysts' fourth-quarter expectations with quarterly earnings per share of $1.98 and total earnings of $2 billion. Analysts at Investing.com previously predicted earnings per share of $1.84 on total revenue of $2.01 billion.