Tobacco company Altria Group exceeded revenue and profit expectations in the second quarter due to strong demand for nicotine pouches and higher pricing. Altria's premium offerings from the Marlboro brand of cigarettes, which hold a 58.6% market share, contributed to its success. The company also saw a 47.8% increase in shipment volumes for its on! nicotine pouches. Furthermore, Altria completed its acquisition of e-cigarette startup NJOY Holdings, adding the NJOY ACE vape to its product portfolio. The company maintained its annual profit forecast, which had been revised in June to account for investments in NJOY ACE.. Subscribe for more!
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Full title: Altria beats revenue, profit expectations on demand for nicotine pouches
Original article date: 2023-08-01T11:57:32Z
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