Philip Morris International’s Q2 Profit Falls

Philip Morris International Inc. (NYSE:PM) reported its second-quarter results, and its outlook for the full year today. Here are the highlights. Quarterly Earnings Reported earnings per share were $1.36 up 0.7 percent over 2011. However, this would have been up 16.8 percen, had it not been for the currency effect and the Japanese hurdle. Operating income was down by 2.9 percent to $3.6 billion. Net earnings were $2.3 billion. Quarterly Shipments and Revenues Cigarette shipment volume fell by 1.2%, excluding acquisitions.  However, cigarette shipment volume was up by 1.4% excluding acquisitions, and the 6.3 billion units associated with the 2011…