USA: Boston Beer Co. reports Q2 earnings of $26.6 mln

Boston Beer Co. on July 21 reported second-quarter earnings of $26.6 million.

On a per-share basis, the Boston-based company said it had net income of $2.06.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.

The brewer posted revenue of $261.2 million in the period.

Boston Beer shares have declined 18 percent since the beginning of the year. In the final minutes of trading on July 21, shares hit $164.74, a fall of 26 percent in the last 12 months.

24 July, 2016