Juul Labs earns more than $1 billion in 2018
Courtesy: Juul Labs
Altria Group Inc. shares gained 3.3 percent to $49.40 by the close of trading on Jan. 31, despite pedestrian fourth-quarter results after the company said that e-cigarette maker Juul topped $1 billion in sales in 2018, a five-fold jump from $200 million the prior year, according to a story on msn.com.
Altria purchased a 35 percent stake in Juul in December for $12.8 billion.
“Altria enters 2019 with an evolved business platform that includes our strong core tobacco businesses and new strategic investments with tremendous potential for growth,” said Howard Willard, Altria’s chairman and CEO.