Why Boston Beer Company Inc Popped 19% in July

Why Boston Beer Company Inc Popped 19% in July

Shares of craft brewer Boston Beer Company Inc (NYSE: SAM) jumped 18.7% in July, according to data provided by S&P Global Market Intelligence, after reporting earnings from the second quarter of 2017. 

Second-quarter revenue was up 1%, to $247.9 million, and net income rose 9.4%, to $29.1 million, or $2.35 per share. A big reason the stock spiked is that analysts were only expecting $1.41 per share in earnings. On top of the earnings beat, management increased the bottom end of full-year earnings guidance from $4.20 to $5.00 with the top end staying at $6.20 per share.

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Source: Fool.com