RICHMOND, Va. (AP) 鈥� RICHMOND, Va. (AP) 鈥� Altria Group (MO) on Thursday reported first-quarter profit of $2.18 billion.
On a per-share basis, the Richmond, Virginia-based company said it had net income of $1.30. Earnings, adjusted for non-recurring costs, were $1.32 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $5.43 billion in the period. Its adjusted revenue was $4.76 billion, also topping Street forecasts. Three analysts surveyed by Zacks expected $4.56 billion.
Altria expects full-year earnings in the range of $5.56 to $5.72 per share.
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