Philip Morris International Inc. reported better-than expected profit, as sales of Zyn nicotine pouches rose more than 25% last year.

Philip Morris International posted higher-than-expected revenue in its fourth quarter as its Zyn nicotine pouches continued to power results.

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.