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Altria expands sales of heated-cigarette as revenue slides

Earns-Altria
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.