Philip Morris International Inc., the world's biggest publicly traded tobacco manufacturer, reported fourth-quarter profit that jumped, exceeding analysts' estimation and revealed it will repurchase $12 billion of its shares over three years.

The company, which operates entirely outside the U. S., reported is the latest to unveil either stock buybacks or dividend increases amid signs markets are stabilizing.

It company witnessed its net income to rise by 5.3 percent to $1.52 billion, or 80 cents a share, from $1.45 billion, or 71 cents, a year earlier, the New York-based company posted today in a statement. Excluding some items, earnings reported were 81 cents a share, beating analysts' projection of 79 cents, the average of 11 estimates in a Bloomberg survey.

While its revenue registered a rise of 9.7% to $6.72 billion, backed by higher excise taxes, however, volume roused by 0.5%, triggered by gains in Algeria, Turkey and Indonesia.

Declines of 1.9% were recorded in the European Union and 1.8% in Latin America and Canada. Marlboro brand shipments fell 3.4%, mostly in the EU.

The buybacks come as the cigarette maker encounters soaring pressure from smoking bans and higher taxes. However, numerous smokers traded down to cheaper cigarettes during the recession, Goldman analysts last month predicted the industry would see cigarette volume declines ease this year, helping relieve some pressure on margins.