Constellation Brands’ quarterly profit nearly doubled, helped by strong sales of beer, including the brands it bought from Groupo Modelo’s U.S beer business, Corona, Modelo and Pacifico.
The world’s biggest branded wine maker said revenue jumped 88 percent to $1.44 billion for the third quarter.
The company’s profit rose to $211 million, or $1.07 per share, in the quarter, from $109.5 million, or 58 cents per share, a year earlier.