Philip Morris International Inc. soared to a record after reporting better-than-expected profit driven by sales of Zyn nicotine pouches.

Philip Morris International Inc.’s stock touched a record high on Thursday after the company issued a profit outlook that topped Wall Street analyst expectations on strength in its smokeless-tobacco products. Philip Morris cited growth in Iqos, its inhalable smoke-free product, as well as Zyn nicotine pouches, which won FDA authorization in 2024.

Demand for Philip Morris International's smoke-free products helped the tobacco giant beat fourth-quarter profit and sales estimates.