https://ca.finance.yahoo.com/news/altria-3q-earnin
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Posted On: 11/01/2019 9:47:41 PM
https://ca.finance.yahoo.com/news/altria-3q-e...57526.html
Altria, the maker of Marlboro cigarettes and Copenhagen chew, has been working to shift its business away from traditional tobacco amid steady declines in smoking.
The company recently began selling a heat-not-burn cigarette alternative, iQOS , made by Philip Morris International. Altria is marketing the first-of-a-kind device in the U.S. under a licensing deal with the international tobacco maker. Both companies say the device could appeal to smokers who have been unwilling to switch to vaping products, which use a nicotine solution, not tobacco.
Altria, which owns Philip Morris USA , said total revenue was virtually flat at $6.86 billion. Its adjusted revenue, which excludes excise taxes, totalled $5.41 billion and beat estimates.
Altria, the maker of Marlboro cigarettes and Copenhagen chew, has been working to shift its business away from traditional tobacco amid steady declines in smoking.
The company recently began selling a heat-not-burn cigarette alternative, iQOS , made by Philip Morris International. Altria is marketing the first-of-a-kind device in the U.S. under a licensing deal with the international tobacco maker. Both companies say the device could appeal to smokers who have been unwilling to switch to vaping products, which use a nicotine solution, not tobacco.
Altria, which owns Philip Morris USA , said total revenue was virtually flat at $6.86 billion. Its adjusted revenue, which excludes excise taxes, totalled $5.41 billion and beat estimates.
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