RICHMOND, Va. (AP) – Altria Group (MO) on Wednesday reported second-quarter net income of $1.65 billion.
The Richmond, Virginia-based company said it had net income of 84 cents per share. Earnings, adjusted for non-recurring gains, were 81 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $4.88 billion in the period.
Altria expects full-year earnings in the range of $3.01 to $3.07 per share.
Altria shares have risen 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has increased 26 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 http://www.zacks.com/ap/MO
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Keywords: Altria, Earnings Report, Priority Earnings