Philip Morris International said Thursday that its second-quarter profit declined 13 percent, as it was hit by foreign exchange rates for the U.S. dollar. However, the company's adjusted profit and revenue beat Wall Street expectations. Its shares edged up in premarket trading Thursday. The Marlboro cigarette seller outside the United States earned $1.85 billion, or $1.17 per share, for the period ended June 30. A year earlier it earned $2.12 billion, or $1.30 per share. Excluding certain items, earnings were $1.41 per share. Analysts surveyed by FactSet expected $1.24 per share. Revenue excluding excise taxes was $7.8 billion, down 1.5 percent from $7.92 billion a year earlier. Wall Street predicted $7.52 billion. Shares of Philip Morris rose 80 cents to $85.50 before the market opened Thursday.
