RICHMOND, Va. (AP) _ Altria Group (MO) on Tuesday reported second-quarter profit of $1.94 billion.
On a per-share basis, the Richmond, Virginia-based company said it had net income of $1.04. Earnings, adjusted for non-recurring costs and asset impairment costs, came to $1.09 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $6.37 billion in the period. Its adjusted revenue was $5.06 billion, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $5.07 billion.
Altria expects full-year earnings in the range of $4.21 to $4.38 per share.