Altria Group's quarterly profit slips; revenue up |
| MarketWatch - Oct 17, 2007 |
Altria Group Inc. said Wednesday third-quarter profit fell more than 8%, hit by charges and continuing declines in U.S. cigarette volume, but the blue-chip tobacco titan nonetheless upped its full-year earnings outlook.
Altria, part of the Dow Jones Industrial Average, said it earned $2.63 billion, or $1.24 a share, down from $2.88 billion, or $1.36 a share, in the year-ago period.
Adjusted to exclude various items, the company said it would have earned $1.21 a share, good enough for a 13% gain. Revenue came in at $19.21 billion, up nearly 9%, with some help from currency translations.
The average estimate of analysts polled by Thomson Financial had been for Altria to earn $1.14 a share for the latest quarter.
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- Posted: 2007-10-17 10:17:46
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