Altria Group (NYSE: MO) reported fourth-quarter 2020 financial results before the regular market hours on Thursday. The tobacco company reported fourth-quarter revenue of $6.3 billion, up 5% year-over-year and above the Wall Street projection. Meanwhile, net income of $0.99 per share was 3 cents lower than what analysts had anticipated.
MO shares rose 0.4% immediately following the announcement. The stock has declined 16% in the trailing twelve months
“Our plans for the year ahead include accelerating investments in support of our 10-year Vision, which we expect to fund through the continued financial strength of our tobacco businesses,” CEO Billy Gifford said in a statement.
