One the one hand maybe we should wait for analysts to explain to us why this isn’t really good news:
Anheuser-Busch Cos., the world’s largest brewer, said profit rose the most in at least 10 years as consumers drank more imported beer such as Corona and Grolsch.
Net income rose 26% to $637.5 million, or 82 cents a share, beating analysts’ estimates of 81 cents a share. Anheuser earned $504.8 million, or 65 cents, a year earlier. Sales rose 4.7% to $4.28 billion from $4.09 billion, the St. Louis- based company said today in a statement.
It must be for A-B stockholders, because shares were up more than 2% as the market was about to close. Maybe leaning on Corona, Grolsh and Tiger means that domestic production is still in the dumps, but the fact is they beat analysts expectations at a time some were downgrading the stock.