Altria Profit And Revenue Top Estimates, Raises Full-year Outlook

Altria Group Inc. said Wednesday it had net income of $1.65 billion, or 84 cents a share, in the second quarter, compared with $1.45 billion, or 74 cents a share, in the year-earlier period. Adjusted per-share earnings came to 81 cents, just ahead of the FactSet consensus of 80 cents. Revenue fell to $6.52 billion from $6.61 billion, but was also ahead of the FactSet consensus of $5.01 billion. "Our core tobacco companies performed extremely well behind solid performance from their leading premium brand," Chief Executive Marty Barrington said in a statement. Altria is raising its full-year adjusted EPS outlook to a range of $3.01 to $3.07, wrapping around the current FactSet consensus of $3.05. Shares were not yet active in premarket trade, but are up 16% in the year so far, while the S&P 500 has gained 6%.