BOSTON (AP) _ Boston Beer Co. (SAM) on Thursday reported second-quarter net income of $60.1 million.
On a per-share basis, the Boston-based company said it had profit of $4.88. Earnings, adjusted for pretax gains, came to $4.69 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.
The brewer posted revenue of $481.1 million in the period. Its adjusted revenue was $452.1 million.
Boston Beer expects full-year earnings in the range of $11.70 to $12.70 per share.
Boston Beer shares have increased 74% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $659.23, an increase of 71% in the last 12 months.