Today, the U.S.'s largest tobacco company, Altria Group Inc (NYSE:MO), announced its 2Q earnings results. Profit fell 58% to $930 million, or $0.45 per share, from last year's $2.2 billion, or $1.05 per share. Sales increased 4% to $5.06 billion from $4.86 billion a year earlier. Altria reaffirmed it's fiscal year 2008 projected earnings to between $1.63 and $1.67 per share. The company's sales gains came from price hikes in its Marlboro cigarette brands as well as increased cigar sales.

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