WASHINGTON -- Marlboro-maker Altria said Tuesday that cigarette sales continue to decline as it pushes to expand sales of an alternative heated-tobacco product.
The tobacco giant's second-quarter profit fell slightly but still beat Wall Street expectations when adjusted for one-time expenses.
Sales slid 3.8% on lower sales of cigarette brands like Marlboro, Parliament and others. Altria has been working to expand its business to vaping and alternative tobacco products.
The company recently expanded marketing of a heat-not-burn cigarette.
U.S. health regulators said earlier this month that the product, licensed from Philip Morris International, reduces exposure to harmful chemicals in cigarettes.