Altria: 2Q Earnings Snapshot
Altria: 2Q Earnings Snapshot
RICHMOND, Va. (AP) _ Altria Group (MO) on Thursday reported second-quarter earnings of $1.88 billion.
The Richmond, Virginia-based company said it had profit of 99 cents per share. Earnings, adjusted for non-recurring costs, were $1.01 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The owner of Philip Morris USA, the nation's largest cigarette maker posted revenue of $6.31 billion in the period. Its adjusted revenue was $4.88 billion, which missed Street forecasts. Five analysts surveyed by Zacks expected $5.04 billion.
Altria expects full-year earnings in the range of $3.94 to $4.03 per share.
Altria shares have declined 19 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 6.5 percent. The stock has dropped 20 percent 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