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Altria beats profit and revenue expectations and lifts outlook, as cigarette shipments increased

·1 min read
Altria beats profit and revenue expectations and lifts outlook, as cigarette shipments increased
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Shares of Altria Group Inc. gained 0.5% in premarket trading Thursday, after the cigarettes and smoke-free products company beat profit and revenue expectations, and raised its full-year outlook. Net income rose to $2.15 billion, or $1.16 a share, from $1.94 billion, or $1.04 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose 12.8% to $1.23, above the FactSet consensus of $1.18. Revenue grew 8.9% to $6.94 billion, beating the FactSet consensus of $6.6