GOLDEN, Colo. (AP) — GOLDEN, Colo. (AP) — Molson Coors Brewing Co. (TAP) on Thursday reported first-quarter net income of $151.3 million.
On a per-share basis, the Golden, Colorado-based company said it had profit of 80 cents. Earnings, adjusted for one-time gains and costs, came to 62 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The beer maker posted revenue of $2.72 billion in the period. Its adjusted revenue was $2.35 billion, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.33 billion.
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