How did PM's revenue and expenses shift in Q4 2024?

In Q4 2024, Philip Morris (PM) saw a significant shift in its revenue and expense structure, reflecting strategic shifts towards smoke-free products and wellness initiatives.

1. **Revenue Shift**:
- The company's revenue was largely driven by its Combustible Tobacco Products segment, with $23.22 billion and $17.4 billion reported for this segment.
- A notable increase was seen in the Smoke-Free Products segment, with revenue reaching $14.33 billion and $10.53 billion.
- The Wellness and Healthcare segment contributed $333 million and $246 million to the revenue pool.

2. **Expense Shift**:
- Similar to revenue, the company's expenses were also dominated by the Combustible Tobacco Products segment, with figures of $23.22 billion and $17.4 billion.
- The Smoke-Free Products segment accounted for $14.33 billion and $10.53 billion in expenses.
- The Wellness and Healthcare segment reported expenses of $333 million and $246 million.

The data indicates a strong performance across all segments, with the Combustible Tobacco Products segment remaining the largest contributor to both revenue and expenses. The Smoke-Free Products segment showed strong growth in both revenue and expenses, suggesting a focus on expanding this segment. The Wellness and Healthcare segment, while smaller, also demonstrated positive contributions to the revenue and expense streams, indicating Philip Morris's diversified business strategy.