Reynolds American Inc. (RAI) on Friday reported first-quarter earnings of $389 million.
On a per-share basis, the Winston-Salem, North Carolina-based company said it had profit of 73 cents. Earnings, adjusted for non-recurring costs, were 86 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted revenue of $2.06 billion in the period.
Reynolds American expects full-year earnings in the range of $3.65 to $3.80 per share.
Reynolds American shares have climbed 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has increased 35 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 RAI at http://www.zacks.com/ap/RAI
Keywords: Reynolds American, Earnings Report, Priority Earnings