A Philip Morris Marlboro brand cigarette burns in an ashtray for this arranged photograph in Tiskilwa, Illinois, on Wednesday, July 12, 2017.
Daniel Acker | Bloomberg | Getty Images
Altria‘s first-quarter earnings declined as revenue fell short of estimates and cigarette shipments continue to decline.
The parent of Marlboro cigarettes has been shifting its business away from traditional tobacco products, and announced it acquired the remaining 20% stake in On, a nicotine pouch product.
The company’s stock was down 1.1% lower in late morning trading.
Here’s what the company reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by…