Molson Coors Brewing posts 2Q profit of $229 million, result tops expectations

MarketsAssociated Press

Molson Coors Brewing Co. (TAP) on Thursday reported second-quarter net income of $229 million.

On a per-share basis, the Denver-based company said it had net income of $1.23. Earnings, adjusted for non-recurring costs, were $1.41 per share.

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The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The beer maker posted revenue of $1.01 billion in the period.

Molson Coors shares have declined 5.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. The stock has climbed almost 5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TAP at http://www.zacks.com/ap/TAP

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Keywords: Molson Coors Brewing, Earnings Report