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Altria Swings to a Deep Loss in Q4

TheMotleyFool 
0 0 31.01.20
Altria Swings to a Deep Loss in Q4
 

Altria Group (NYSE: MO) stock is taking it on the chin in late trading on Thursday, following a dispiriting earnings report.

The tobacco giant unveiled its fourth-quarter and full-year fiscal 2019 results, which showed that it booked revenues net of excise taxes of slightly over $4.80 billion in the former period. That was essentially unchanged from the Q4 2018 result. Much more dramatically, under GAAP standards Altria swung violently to a $1.8 billion ($1.00 per share) loss on the bottom line from a nearly $1.3 billion profit in the year-ago quarter.

Image source: Getty Images.

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Source Fool.com

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