- Associated Press - Thursday, October 25, 2018

RICHMOND, Va. (AP) - Altria Group (MO) on Thursday reported third-quarter profit of $1.94 billion.

The Richmond, Virginia-based company said it had profit of $1.03 per share. Earnings, adjusted for one-time gains and costs, came to $1.08 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $6.04 billion in the period. Its adjusted revenue was $4.53 billion, which missed Street forecasts. Five analysts surveyed by Zacks expected $5.22 billion.

Altria expects full-year earnings in the range of $3.95 to $4.03 per share.

Altria shares have declined 13 percent since the beginning of the year, while the Standard & Poor’s 500 index has decreased nearly 1 percent. The stock has decreased almost 3 percent in the last 12 months.


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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