Altria 2Q profit stays flat

Markets Associated Press

Altria Group (MO) on Tuesday reported net income that stayed flat in its second quarter. The results matched analysts' expectations.

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The Richmond, Virginia-based company reported earnings of $1.26 billion, or 64 cents per share, compared with $1.26 billion, or 63 cents per share, in the same quarter a year ago.

Earnings, adjusted for non-recurring costs, were 65 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The company posted revenue of $4.57 billion compared with $4.53 billion in the same quarter a year earlier, and missed Wall Street estimates. Analysts expected $4.62 billion, according to Zacks.

Altria shares have risen $3.62, or 9.4 percent, to $42.01 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.8 percent. The stock has increased $5.13, or 14 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full MO report: http://www.zacks.com/ap/MO

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Keywords:Altria,Earnings Report