Constellation Brands revenue beats estimates on higher beer sales
July 2 (Reuters) - Constellation Brands Inc reported higher-than-expected quarterly revenue, helped by increased sales of its beer brands such as Corona and Modelo, sending its shares up 7 percent in premarket trading.
The company's net income rose to $206.7 million, or $1.03 per share, in the first quarter ended May 31, from $52.9 million, or 27 cents per share, a year earlier.
Net sales more than doubled to $1.53 billion. Analysts on average had expected $1.43 billion in net sales, according to Thomson Reuters I/B/E/S. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)
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