RICHMOND, Va. (AP) _ Altria Group (MO) on Thursday reported first-quarter profit of $1.42 billion.
On a per-share basis, the Richmond, Virginia-based company said it had net income of 77 cents. Earnings, adjusted for non-recurring costs, came to $1.07 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $6.04 billion in the period. Its adjusted revenue was $4.88 billion, which missed Street forecasts. Four analysts surveyed by Zacks expected $4.99 billion.