Philip Morris International (NYSE:PM) is set to release its second quarter earnings on July 19, wherein revenue and EPS growth of 9.4% and 8.8% are expected, as compared to the corresponding quarter of the previous year. Revenue growth is set to be driven by increased sales of its reduced risk products (RRPs), iQOS in particular, as well as price increases, while a reduction in the tax rate is expected to be the primary driver in the earnings improvement.