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Altria Group Q2 profit climbs 17.6% YOY

Altria Group Inc. said its second-quarter normalized net income was 72 cents per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.

EPS rose 18.7% year over year from 61 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.41 billion, an increase of 17.6% from $1.20 billion in the year-earlier period.

The normalized profit margin climbed to 29.0% from 26.3% in the year-earlier period.

Total revenue increased 6.7% on an annual basis to $4.88 billion from $4.57 billion, and total operating expenses came to $2.64 billion, compared with $2.62 billion in the year-earlier period.

Reported net income rose 14.8% year over year to $1.45 billion, or 74 cents per share, from $1.26 billion, or 64 cents per share.