Philip Morris International Inc. announced on Thursday that its diluted loss per share for the fourth quarter of fiscal 2024 at $0.38. Meanwhile, its adjusted earnings per share reached $1.55, beating market expectations.

The company's total net revenue came in at $9.7 billion, marking a 7.3% increase compared to the same period last year. Total shipment volume rose by 2.3% annually, amounting to 193.1 billion units in the quarter. Operating income saw a 12.8% increase year-over-year, standing at $3.3 billion. For the full year, the earnings per share (EPS) stood at $4.52, while the diluted EPS marked $6.57.

"2024 was a remarkable year for PMI. We delivered very strong full-year results driven by the continued growth of IQOS and ZYN in addition to a robust combustibles performance," said Company CEO Jacek Olczak.