Philip Morris had a decent first quarter of 2022 with double-digit organic net revenue growth excluding the Russia and Ukraine performance. The company’s IQOS business had a strong quarter, continuing the reacceleration seen in the previous quarter as device supply constraints eased. Except for Russia and Ukraine, their IQOS user base increased by more than 1 million which is a positive sign. Philip Morris’ organic net revenue increased by 9% in total and 10% on a pro forma basis. The company sa ....
