UPDATE: Lorillard Posts Rise In Q3 Profit

Lorillard LO reported a rise in its third-quarter profit. Lorillard's quarterly profit climbed to $283 million, or $2.16 per share, versus $267 million, or $1.94 per share, in the year-earlier period. Its revenue surged to $1.66 billion, from $1.62 billion. However, analysts were expecting earnings of $2.23 per share on revenue of $2 billion. Lorillard shares closed at $115.78 yesterday.