PHILIP MORRIS REPORTS EARNINGS INCREASE FOR THIRD QUARTER

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CHICAGO (AdAge.com) -- Philip Morris Cos. reported $2.36 billion in underlying net earnings for the third quarter, up 5.3% from $2.24 billion in the year earlier period.

The increase was driven primarily by the company's domestic tobacco business, which saw an 8.1% rise in operating income to $1.6 billion, 34% of the companys total operating income of $4.7 billion, which rose 12.5% from $4.2 billion in the third quarter of 2000.

Philip Morris retail share of the premium cigarette market increased 1.4 points to 61.8%, led by Marlboro with a 38.4% share. Parliament was up 0.2 points to 1.2%.

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