The United States now has more than $50 billion in revenue from cigarettes, according to a study by researchers at Duke University and the University of Pennsylvania.
But there’s a big problem: the tobacco industry isn’t making nearly as much money as the rest of us.
In fact, the tobacco companies are making just under $6 billion a year, according a new study by the University and Duke researchers.
The findings come as cigarette companies and some other industries struggle to make up lost ground as e-cigarettes become more popular.
The study, published Monday in the Journal of Tobacco Control, is one of several that have found cigarette sales to be declining.
And the researchers say they’ve found evidence that the trend is worsening.
“This is one area where there is a real need for reform,” said the Duke researchers, Andrew P. Hsieh and Daniel E. Shapiro.
“It is clear that e-cigarette companies have been over-compensating for their losses and under-competing for customers.”
The study looked at a variety of sources of revenue from cigarette companies, including e-commerce, retail sales and cigarette wholesalers.
They also looked at cigarette and tobacco product sales at restaurants, bars, and other venues.
The authors looked at data from the U.S. Bureau of Labor Statistics and the Bureau of Economic Analysis.
They estimated the total amount of revenue generated by cigarette companies in 2014.
The study focused on cigarette companies’ revenue from the tobacco products that they sell, including cigarettes and cigars.
It did not look at their tobacco product revenue.
Pete Egan, a spokesman for the American Lung Association, said in an email that the association “is disappointed with the findings, which suggest that e Cigarette companies are over-reporting their tobacco products sales and undercharging customers for their products.”
The authors of the study didn’t dispute the findings.
But Hsieu and Shapiro said they were “shocked” by the findings and believe that the results could be even worse than the researchers estimated.
“The fact that e cigarettes are selling at a profit to a small number of smokers and then making even smaller profits to the tobacco corporations, and then trying to cover their losses by raising prices, is just outrageous,” Hsie.
“We’ve heard the mantra for decades that cigarettes are a good thing.
But we’re now seeing that this is a bad thing.”
The researchers analyzed tobacco industry revenue in the United States from 2004 to 2014 and found that the tobacco product companies generated $8.7 billion in profit for the U., according to their study.
The tobacco companies also made more than a billion dollars in sales from e-liquid, cigarettes, cigars, pipes, pipes accessories, and related products.
That’s not a huge chunk of tobacco sales, however.
The industry made just $3.6 billion in profits from e cigarettes in 2014, according the researchers.
Hsi and Shapiro estimate that the average tobacco company’s profits are $7.5 billion a day.
But e-cig sales have been on the rise, particularly among younger smokers.
The researchers found that e cigarette sales grew from $11.4 billion in 2004 to $30.8 billion in 2014 — and those numbers are expected to continue rising.
The authors estimated that e cig sales could hit $120 billion by 2035.
Hsieh said that some analysts have argued that the e-cigs are a success because of their “nicotine” taste and ease of use.
That’s because they’re made by small, independent companies and don’t require a lot of training or supervision.
But Hsie-shah also said that “there’s no reason to believe that e smokers don’t want to try an e cigarette,” given the number of people who have tried them and the number that have quit smoking.
Hsi and Shap-sham also found that, in a number of areas, e-smoking is being misreported.
For example, they said, the “nicity” of e-smokers’ cigarettes may be inflated.
The results also don’t necessarily suggest that smokers who try e-liquids and cigarettes are more likely to quit smoking or that the nicotine levels in e-juices are higher than they should be.
Still, the authors said, “it is not clear that the public is being misled about the effects of e cigarette use on smoking behavior.”
The tobacco industry did not immediately respond to a request for comment.