WINSTON SALEM, N.C. (AP) _ Reynolds American Inc. (RAI) on Tuesday reported second-quarter net income of $796 million.
On a per-share basis, the Winston Salem, North Carolina-based company said it had net income of 56 cents. Earnings, adjusted for non-recurring costs, came to 58 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted revenue of $3.2 billion in the period.
Reynolds American expects full-year earnings in the range of $2.26 to $2.34 per share.
Reynolds American shares have risen 13 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 per cent. The stock has risen 31 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RAI at http://www.zacks.com/ap/RAI
Keywords: Reynolds American, Earnings Report, Priority Earnings