Altria: 2Q Earnings Snapshot

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.

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Altria expects full-year earnings in the range of $4.21 to $4.38 per share.

Altria shares have fallen 16% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has decreased 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MO at https://www.zacks.com/ap/MO

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