RICHMOND, Va. (AP) — RICHMOND, Va. (AP) — Altria Group (MO) on Wednesday reported second-quarter net income of $3.8 billion.
On a per-share basis, the Richmond, Virginia-based company said it had net income of $2.21. Earnings, adjusted for non-recurring gains, came to $1.31 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $6.21 billion in the period. Its adjusted revenue was $5.28 billion, also missing Street forecasts. Three analysts surveyed by Zacks expected $5.43 billion.
Altria expects full-year earnings in the range of $5.07 to $5.15 per share.
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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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