July 30 (Reuters) - Tobacco giant Altria ( MO ) beat

Wall Street estimates for second-quarter revenue and profit on

Wednesday, helped by strong demand for its on! nicotine pouches.

The Richmond, Virginia-based company has been banking on its

portfolio of smoking alternatives, such as nicotine pouches, to

offset the impact from lost sales as more consumers move away

from traditional cigarettes and chewing tobacco.

While sales of Altria's ( MO ) vape brand, NJOY, were halted

earlier this year amid a patent dispute, higher growth at its

on! segment helped make up for the collapse in sales.

The company had said in April NJOY will not return to the

market this year, booking a hefty impairment related to its vape

unit.

Widespread sales of unregulated disposable vapes, mostly

from China, have eaten into vape and traditional tobacco

businesses in the U.S. However, Altria ( MO ) said it anticipates a

limited benefit from higher seizures of such devices.

The company's quarterly revenue including excise taxes rose

0.2% to $5.29 billion from a year ago, compared with analysts'

average estimate of a 1.8% decline to $5.18 billion, according

to data compiled by LSEG

Its adjusted second-quarter profit of $1.44 per share beat

estimates of $1.39.

Shipment volume for on! nicotine pouches rose 26.5%,

compared with a 13.7% increase a year ago.

Rival Philip Morris International's shares suffered

last week after shipments of its ZYN nicotine pouches - by far

the No. 1 pouch brand in the U.S. - came in below expectations.

Shipment volume for Altria's ( MO ) smokeable tobacco business fell

10.2% during the second quarter, compared with a 13% decline a

year ago.

The company recorded a non-cash, pre-tax charge of $354

million during the quarter, related to an impairment of

trademark for its Skoal smokeless tobacco. It did not give a

reason for the impairment.

Altria ( MO ) expects annual adjusted earnings of $5.35 to $5.45

per share, compared with previous expectations of $5.30 to

$5.45.