RICHMOND, Va. (AP) — RICHMOND, Va. (AP) — Altria Group (MO) on Tuesday reported first-quarter earnings of $1.08 billion.
The Richmond, Virginia-based company said it had profit of 63 cents per share. Earnings, adjusted for non-recurring costs, came to $1.23 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $5.26 billion in the period. Its adjusted revenue was $4.52 billion, missing Street forecasts. Three analysts surveyed by Zacks expected $4.64 billion.
Altria expects full-year earnings in the range of $5.30 to $5.45 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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