Molson Coors Brewing Company Q2 Profit Increases, beats estimates

(RTTNews) - Molson Coors Brewing Company (TAP-A) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $342.4 million, or $1.57 per share. This compares with $47.3 million, or $0.22 per share, in last year's second quarter.

Excluding items, Molson Coors Brewing Company reported adjusted earnings of $387.2 million or $1.78 per share for the period.

Analysts on average had expected the company to earn $1.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.0% to $3.27 billion from $2.92 billion last year.

Molson Coors Brewing Company earnings at a glance (GAAP) :

-Earnings (Q2): $342.4 Mln. vs. $47.3 Mln. last year. -EPS (Q2): $1.57 vs. $0.22 last year. -Analyst Estimate: $1.63 -Revenue (Q2): $3.27 Bln vs. $2.92 Bln last year.