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BOSTON (AP) — BOSTON (AP) — Boston Beer Co. (SAM) on Thursday reported first-quarter profit of $24.4 million.
On a per-share basis, the Boston-based company said it had profit of $2.16.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The brewer posted revenue of $481.4 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $432.3 million.
Boston Beer expects full-year earnings to be $8 to $10.50 per share.
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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 SAM at https://www.zacks.com/ap/SAM