Altria expands sales of heated-cigarette as revenue slides

Posted at 10:37 AM, Jul 28, 2020
and last updated 2020-07-28 10:37:32-04

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.

The CBS 6 Problem Solvers are Working For You.

Contact the CBS 6 Problem Solvers

📱 Download CBS 6 News App
The app features breaking news alerts, live video, weather radar, traffic incidents, closings and delays and more.