April 25 (Reuters) - Altria Group ( MO ) topped

quarterly sales expectations on Thursday, driven by higher

pricing and rising demand for alternatives to conventional

tobacco products.

Like other tobacco giants, Altria ( MO ) has been revamping its

portfolio of products to keep up with consumers switching from

traditional tobacco products to vapes or other alternatives and

as inflation-hit smokers switched to cheaper brands.

The company's net revenue came in at $5.58 billion in

the first quarter, topping analyst expectations of $4.71

billion, while profit on an adjusted basis came in line with

expectations.

Last year, Altria ( MO ) launched a lower-priced version of its

flagship Marlboro brand and finalized its acquisition of

e-cigarette startup NJOY Holdings, expanding its portfolio to

include pod-based vapes.

Shipment volumes of Altria's ( MO ) nicotine pouch, On!

increased by 32.1% compared to 25.2% in the previous quarter.

The results echo peer Philip Morris International ( PM )

, which reported upbeat quarterly results, helped by

robust demand for its heated tobacco product and Zyn nicotine

pouches.

Earlier this year, Altria ( MO ) cut its stake in top beer maker

Anheuser-Busch InBev.

Shares of Altria ( MO ) were up marginally in premarket trade.