Altria reported essentially flat second-quarter revenue and a decline in profit, as a drop in sales of its nicotine pouch products partially offset growth in its cigarette business.

The tobacco company announced on Thursday that quarterly profit was $2.3 billion, or $1.37 per share, down from $2.38 billion, or $1.41 per share, in the same period last year. After adjusting for certain one-time items, adjusted earnings per share came in at $1.48, falling short of the $1.50 expected by analysts surveyed by FactSet.

Revenue was virtually unchanged at $6.11 billion. Analysts polled by FactSet had forecast revenue of $5.35 billion.

In the smokable products segment, which includes Marlboro and Virginia Slims cigarettes, revenue increased by 0.7%. This growth was driven by higher pricing, but it was partially offset by increased promotional activity and lower shipment volumes.

The company's oral tobacco business, which includes on! nicotine pouches, saw a 5.3% decline in revenue.

Altria narrowed its full-year adjusted earnings per share guidance range to $5.61 to $5.72, compared to the previous range of $5.56 to $5.72. The revised outlook reflects the company's expectation that cigarette import and export activities will yield greater benefits in the second half of the year compared to the first half.

In pre-market trading on Thursday, the company's shares fell 3.4% to $72.40.