Molson Coors Posts Nearly $2.8B in Q1 Revenue

Shares of the brewer's stock jumped following the strong results.

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GOLDEN, Colo. (AP) β€” Molson Coors Brewing Co. on Tuesday reported first-quarter net income of $72.5 million.

The Colorado-based company said it had profit of 33 cents per share. Earnings, adjusted for non-recurring costs, were 54 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The beer maker posted revenue of $2.77 billion in the period. Its adjusted revenue was $2.35 billion, also beating Street forecasts. Seven analysts surveyed by Zacks expected $2.23 billion.

Shares of the brewer's stock were up $4.63 to $65.08 in Tuesday trading.

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