Philip Morris posted third-quarter earnings and revenue that exceeded analysts' expectations on Tuesday.

Philip Morris reported $1.58 earnings per share on $8.12 billion in revenue. Aanalysts, who predicted EPS of $1.56 on revenue of $7.92 billion.

Philip Morris shares are up 17% since the start of the year but remain 8.51% behind their 52-week high of $106.51 achieved on September 7. They are underperforming the S&P 500, which has gained 19.45% since the beginning of the year.