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Reynolds American beats 2Q profit forecasts

In this July 17, 2015 photo, store manager Stephanie Hunt poses for photos with packs of Camel cigarettes, a Reynolds American brand, at a Smoker Friendly shop in Pittsburgh. Reynolds American reports quarterly financial results on Tuesday, July 28, 2015. (AP Photo/Gene J. Puskar)
In this July 17, 2015 photo, store manager Stephanie Hunt poses for photos with packs of Camel cigarettes, a Reynolds American brand, at a Smoker Friendly shop in Pittsburgh. Reynolds American reports quarterly financial results on Tuesday, July 28, 2015. (AP Photo/Gene J. Puskar) In this July 17, 2015 photo, store manager Stephanie Hunt poses for photos with packs of Camel cigarettes, a Reynolds American brand, at a Smoker Friendly shop in Pittsburgh. Reynolds American reports quarterly financial results on Tuesday, July 28, 2015. (AP Photo/Gene J. Puskar)

By Associated Press 1 min read

WINSTON SALEM, N.C. (AP) – Reynolds American Inc. (RAI) on Tuesday reported second-quarter net income of $1.93 billion.

The Winston Salem, North Carolina-based company said it had net income of $3.38 per share. Earnings, adjusted for non-recurring gains, came to $1.02 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted revenue of $2.4 billion in the period.

Reynolds American expects full-year earnings in the range of $1.90 to $2 per share.