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Why Boston Beer Company Inc. Stock Skyrocketed Today

TheMotleyFool

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Why Boston Beer Company Inc. Stock Skyrocketed Today

Shares of Boston Beer Company (NYSE: SAM) were up 16% as of 12:45 p.m. EDT Friday after the craft brewing specialist announced better-than-expected second-quarter 2017 results.

Quarterly revenue increased 1.3% year over year to $264.7 million and translated to 9.4% growth in net income to $29.1 million. Thanks to share repurchases over the past year, net income per diluted share rose 14.1% to $2.35. By comparison, investors were only expecting earnings of $1.41 per share on revenue of $247.9 million.

IMAGE SOURCE: THE MOTLEY FOOL.

Source: Fool.com