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

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

Zyn is manufactured by Swedish Match, which Philip Morris International acquired in a $16 billion deal in 2022. That year, Zyn shipped 238 million cans in the U.S. Philip Morris International forecasts that the total more than doubled in 2024. Zyn's growth comes as Philip Morris looks to transition more to smokeless products.