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Ambev Tops Q2 EPS, Net Revenue Estimates; ADRs Up Over 8%

11:47AM ET 7/25/2019 MT Newswires
American depositary receipts of Ambev (ABEV) were up 8% Thursday after the brewing company booked a Q2 normalized EPS of BRL0.17 ($0.04), rising from BRL0.14 a year ago and beating the BRL0.16 average estimate from analysts polled by Capital IQ.

Net revenue increased to BRL12.15 billion ($3.21 billion) from BRL11.51 billion in Q2 2018, boosted by revenues from the company's Brazil, Latin America South, and Central America and the Caribbean segments. Ambev's Q2 net revenue also topped the BRL11.85 billion CapIQ mean.

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